Warren Buffett went in depth to clarify the admiration he has for his deputy and Berkshire Hathaway Inc. BRKA BRKB Vice Chairman Charlie Munger and the equation they share.

Assume Fairly A lot Alike: “Charlie and I believe just about alike,” Buffett stated in his annual letter to Berkshire shareholders launched on Saturday. “However what it takes me a web page to clarify, he sums up right into a sentence,” the celebrated investor stated. Munger’s model all the time was extra “clearly reasoned” and in addition extra artfully acknowledged, Buffett added.

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Buffett additionally shared just a few of Munger’s ideas taken from a really current podcast. Among the many nuggets shared was how Munger has been getting his manner completed with the Berkshire CEO. “Warren, suppose extra about it. You’re sensible and I’m proper,” Buffett stated, stating that these two quick sentences have been his “decision-clinchers” for many years.

Makes Me Assume, Snicker: The Oracle of Omaha shared an announcement that would go into Munger’s listing of guidelines. “Discover a very sensible high-grade associate — ideally barely older than you — after which hear very rigorously to what he says,” Buffett stated, apparently referring to Munger because the older, sensible, high-grade associate. Munger is 99 years outdated, about seven years older than Buffett.

In a lighter vein, Buffett famous that at final yr’s annual shareholder assembly held in Omaha after a three-year pause on account of COVID-19, he and Munger welcomed visitors with the See Kiosk’s peanut brittle and sweets. “In spite of everything, what else however sweet from See’s might account for Charlie and me making it to 99 and 92?,” he stated.

“I by no means have a telephone name with Charlie with out studying one thing. And, whereas he makes me suppose, he additionally makes me snort,” Buffett stated.

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