The investing community mourns the passing of legendary investor Charlie Munger.

• Throughout the investing world, Charlie Munger's legacy, known for his quick wit and Berkshire Hathaway's success, continues to resonate.
• Mario Gabelli said “a titan has passed …all will miss Charlie.”
• Allianz's chief economic advisor, Mohamed El-Erian, discussed the distinctive bond between Munger and Warren Buffett.

On Tuesday, several investors expressed their grief over the death of Charlie Munger, the vice chairman of Warren Buffett's company, who was renowned for his sharp mind and significant contributions to the company's success.

Charlie's inspiration, wisdom, and participation were crucial in building Berkshire Hathaway to its current status, according to Buffett in a press release. Buffett previously attributed the business approach of Berkshire Hathaway to Munger, stating that Munger once gave him a "blueprint" to "buy wonderful businesses at fair prices" rather than the other way around.

Charles Bobrinskoy of Ariel Investments praised Munger as a "true master of investing" on CNBC's "Closing Bell: Overtime" following the news release. He also highlighted Munger's significance as a voice in value investing and all investing.

In a statement Tuesday evening, Mohamed El-Erian, the chief economic advisor of Allianz and former CEO of PIMCO, discussed the uniquely powerful bond between Munger and Buffett.

El-Erian expressed his sadness upon hearing the news of Charlie Munger's passing. For many years, the two of them led a successful investment firm that greatly enhanced the lives of many people. Through their collaboration, synergies, and common sense, they consistently demonstrated their investment prowess.

Charlie Munger, a titan, has passed away, and all will miss him.

Berkshire Hathaway CEO Warren Buffett is a "titan of business and keen observer of the world around him," according to Apple CEO Tim Cook. Although Berkshire initially invested in Apple in 2016 and is now one of its largest shareholders, Buffett has previously expressed regret that Berkshire did not buy Apple shares more aggressively.

Charlie Munger played a crucial role in establishing an American institution and, through his knowledge and guidance, influenced a new wave of leaders. His passing will be deeply felt. "Farewell, Charlie," Cook penned.

According to the Berkshire Hathaway press release, Munger, who was well-known to investors, passed away peacefully on Tuesday morning at a hospital in California.

Munger, the famed investor, was described as "full of life" by Stephanie Link, the chief investment strategist at Hightower Advisors, who said that the investor had taught them a lot over the years.

The Berkshire Hathaway annual meeting attracted hundreds of investors due to some of the lessons taught going beyond investing, as value investor Whitney Tilson attests.

Tilson, research editor at Stansberry, shared with CNBC how people who had it all brought themselves to ruin through their storytelling, which had a significant impact on his life.

According to George Seay, chairman of Annandale Capital, Charlie Munger was a highly accomplished attorney who excelled in various fields.

Munger's interests extended beyond investing. He was a real estate attorney, publisher of the Daily Journal, and involved in architecture. He was also a philanthropist and served on the Costco board.

On Tuesday evening, Wesley Chan, co-founder and managing partner of FPV, posted on LinkedIn to honor Munger's life.

Charlie provides me comfort in knowing that by avoiding the mistakes caused by misaligned incentives, greed, hysteria, or peer pressure, you are often going against the norm," Chan stated. "As an investor and a friend to many founders who also face their own lonely journeys, this sentiment holds true for me.

The report was contributed to by Christina Cheddar Berk, Brian Evans, and Alex Harring of CNBC.