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Buffett's success story and philosophy


Warren Buffett :”He grew up less than a block away from where I now live. He worked in my grandfather's grocery store, like I did. But we did not know each other 'til he was 35 and I was 29, and we went to dinner, and in five minutes, so we knew we were sort of made for each other.”

Host:”Warren, what's it like sitting next to Charlie on the stage?”

Warren Buffett :”I always learn something.We've got an extremely good partnership, and business is more fun. This life is more fun with a good personal partner and to have a great business partner. We've accomplished more, but we've also had way more fun.

And this is true-we disagree on a lot of things, not that many,but some. We've never had an argument in the entire time we've known each other, which is almost 60 years now.I've listened to him, not too many people I listen to, but Charlie, he's given me a lot of good advice over time.

I may hate to take it to a certain degree, but my decisions have been better.But I did, I've lived a better life because of Charlie.”

Charlie Munger :”which turned out to be a very good idea.”

Warren Buffett :”I said, ‘Charlie, it's OK as a hobby, but forget it.’”

Charlie Munger :”He was right. It took him a while to convince me.But I'm a slow learner sometimes.This is a place,Berkshire, where everybody's done a lot for everybody else and that's why people like it. They're here to celebrate, I'd say, a set of values. It's like the Catholic Catechism.”

Host:”How so?”

Charlie Munger :”Well it never changes, for one thing.And usually has old guys in charge.“

Warren Buffett :”And has old white males in charge.”

Charlie Munger :” And has old white males in charge,absolutely.”