If there is a chance to spend another day with Munger, what does Buffett want to do?

It can be said that although the 99-year-old Munger was absent from the 2024 Berkshire shareholder meeting due to his death, Munger was everywhere in the famous Q&A session with Pak Lao.

Not only is the mysterious short film of the annual meeting shown in public for the first time in history to pay tribute to Munger, but only one book will be sold at the shareholders' meeting this year - the latest edition of "Poor Charlie's Book", and Buffett will inadvertently regard the people around him as his "Big Brother Charlie".

Warren Buffett: Being with Munger is happier than being alone, and everyone should ask who they spent their last day with

In the Q&A session in the morning, a child wondered what he would do if Buffett had the opportunity to spend another day with Munger.

Buffett said that he and Munger do things that make them happy every day. Munger loves to learn, is interested in many things, and has a wider range of interests than Warren Buffett, and the two have similar interests, and they are happier to spend time together than when they are alone:

"It's also fun for us to make mistakes together, to correct them and to learn from them, which seems to be more enjoyable because your partner will help you get out of it, and then you see that the decisions you made 10 years ago are still making money. ”

Warren Buffett admits that if he had the opportunity to spend another day with Munger, "it wouldn't be much different from all the days we've had before":

"I've never seen anyone like Munger, who lived to the pinnacle of his life at the age of 99 and the whole world wanted to come to you. Munger once said that it would be good to know that one day he would die, so that he would never go to that day. ”

Speaking of this, remembering the humor of his old friend, Buffett couldn't help but laugh. He also said that people always get smarter as they get older, because they can learn from their mistakes:

"We still think the world is interesting, and when we're that old, I asked Munger who you'd most like to have dinner with in the last 2,000 years, and Charlie said I've met them all.

Everyone should ask themselves who you would like to spend the last day of your life with, meet them now, and do things with them. ”

A moment of tears: Buffett accidentally blurted out "Charlie, it's time for you to answer"

A rather "teary-eyed" scene appeared in the third question of the Q&A session, Buffett finished his answer, and then turned to the CEO successor next to him, Abel, the head of all other businesses except insurance, but blurted out "Charlie".

Warren Buffett immediately explained: "I say I'm used to it, in fact, I have reminded myself many times not to say wrong, but I still say wrong, I say it wrong, and I may say it later." Abel said it would be "a great honour" to be treated as Munger.

Some analysts pointed out that this moment highlights the strong friendship between Buffett and Munger. Some netizens who attended the meeting said that this was one of the most exciting moments of the annual meeting.

Some netizens posed for sale of Buffett and Munger dolls on the spot, as if they had once sat side by side on the rostrum of the shareholders' meeting, and quoted the lyrics of American rapper Puff Daddy in the song "I'll be missing you":

"It was like just yesterday, we rocked together, I fastened the track, you locked the rhythm, life wasn't always the same, words couldn't express what you meant to me, even when you're gone, we're still in a team. ”

Some netizens posted a live picture: Buffett and Munger appeared together in the short film, but in reality, Buffett was the only one on the podium.

For the first time in Berkshire's history, a secret short film of the annual meeting was made public, just to honor Munger's memory

Prior to the Q&A session, a short video was released at the annual meeting detailing Munger's life.

Including his life in Omaha, Nebraska, USA. Both Munger and Buffett were born and raised there, just two miles from Berkshire's annual meeting, and Munger even worked for the Buffett family's grocery store, though he didn't know Buffett at the time.

The video also showcases historical footage of Munger's shareholder meetings, as well as a collection of well-known incisive commentaries over the years.

For example, at a conference in 2015, he said, "If people didn't make mistakes often, Warren Buffett and I wouldn't be so rich." Buffett, who was next to him, regretted not blocking Munger's mouth.

For example, the film shows Munger saying at an early shareholder meeting: "If I can be optimistic when I'm dying, then the rest of you can definitely deal with a little bit of inflation." ”

There's also a video showing Munger saying, "The right way to make a decision in real life is based on your opportunity cost." When you get married, it is essential to choose the one that suits you best. It's the same way for the rest of your life. ”

Some analysts say that in this touching and somewhat humorous film, Buffett pays tribute to his long-time friend and business partner, reiterating that Munger is "the architect of Berkshire" and "the genius who provides the blueprint", and that Buffett himself is just a "contractor who does the work".

Warren Buffett praised Munger for his absolute honesty and recommended everyone to buy the latest version of "Poor Charlie's Book"

Throughout the Q&A session, Buffett would involuntarily "Cue to" Munger.

When asked about "how to find a true idol/life coach in life, how to make good friends and other experiences", Buffett said that a suitable life idol is very important, and he and Munger have:

"It's important that someone continues to love you, even if you break some of the rules, Munger and I have both been loved so much. You need to have the right hero to worship, depending on what kind of person you want to become, and if you choose the right idol, you're on the right track, not just in terms of making money, but about the whole life. ”

When evaluating Berkshire's investment strategy, Buffett said that BYD and Costco are the two stocks that Munger thinks Berkshire needs to buy the most, and Buffett admits that it is a pity that he has not listened enough to Munger.

Buffett also praised Munger at all times, calling Munger "truly honest" and a trustworthy business partner:

"I also have complete trust in my children and wife, but that doesn't mean I'll ask them what stocks to buy. When it comes to managing money, for decades, there has been no one in the world better to talk to than Charlie. ”

Buffett said that Munger's "absolute honesty" is one of the reasons why he has become a key partner of Buffett. This honesty permeates Munger's work and personal life:

"When you encounter something like this in your life, you cherish this kind of person and forget about other people. ”

Some shareholders also found that without Munger being present to "gag" and say witty words, Buffett's speech seemed to be more focused on Berkshire's business, which had a "business-like" flavor.

At the end of the Q&A session, Buffett did not forget to market Munger's "legacy" and recommended everyone to buy "Poor Charlie's Book".

Buffett said that in honor of Munger, the latest edition of "Poor Charlie's Book" will be the only book to be sold at Berkshire's shareholder meeting this year, and about 2,400 copies have been sold on Friday. According to Buffett, in previous years, 25 books were usually sold on-site at annual meetings.

Buffett's closing remarks on the Q&A session also seemed to echo Munger's absence, jokingly, "I hope you guys come next year, and I hope I will come next year." Previously, Buffett said that he did not think he should sign another four years at the helm of Berkshire.

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