Warren Buffett went in depth to explain the admiration he has for his deputy and Berkshire Hathaway Inc. BRKA BRKB Vice Chairman Charlie Munger and the equation they share.
Think Pretty Much Alike: “Charlie and I think pretty much alike,” Buffett said in his annual letter to Berkshire shareholders released on Saturday. “But what it takes me a page to explain, he sums up into a sentence,” the celebrated investor said. Munger’s version always used to be more “clearly reasoned” and also more artfully stated, Buffett added.
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Buffett also shared a few of Munger’s thoughts taken from a very recent podcast. Among the nuggets shared was how Munger has been getting his way done with the Berkshire CEO. “Warren, think more about it. You’re smart and I’m right,” Buffett said, stating that these two short sentences have been his “decision-clinchers” for decades.
Makes Me Think, Laugh: The Oracle of Omaha shared a statement that could go into Munger’s list of rules. “Find a very smart high-grade partner — preferably slightly older than you — and then listen very carefully to what he says,” Buffett said, apparently referring to Munger as the older, smart, high-grade partner. Munger is 99 years old, about seven years older than Buffett.
In a lighter vein, Buffett noted that at last year’s annual shareholder meeting held in Omaha after a three-year pause on account of COVID-19, he and Munger welcomed guests with the See Kiosk’s peanut brittle and chocolates. “After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?,” he said.
“I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh,” Buffett said.
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