Charlie Munger, called the 'Oracle of Pasadena' for his investment ability, began working at his grandfather's grocery shop during the Great Depression, earning only $2 for a 12-hour shift.

Despite working at the same grocery business in Omaha throughout the 1930s, Munger and Warren Buffett did not meet until 1959, when they began a lifelong relationship that changed the investment landscape.

Munger, who was born in 1924 and lived through the Great Depression, believed that people nowadays are more dissatisfied despite encountering less adversity. During a Daily Journal meeting, he noticed this shift in viewpoint.

Munger observed that jealousy plays a big influence in people's dissatisfaction, claiming that even with a 600% increase in living standards, people might still feel miserable when comparing themselves to others.

During the worst recession since the Great Depression in 2009, Munger emphasised the necessity of not waiting for the economy to stabilise before investing in equities, warning that it might be too late by then.

Munger, a World War II veteran, enrolled in the United States Army Air Corps. Despite not finishing his undergraduate degree, he graduated from Harvard Law School in 1948 and practised law in Los Angeles before entering the investing business.