Warren Buffett on his successful relationship with Charlie Munger

Nelson Ching | Getty Images

Charles Munger, Vice President of Berkshire Hathaway Inc., on the left, and Warren Buffett, President of Berkshire Hathaway Inc., attend a BYD Co. press event in China on Monday, September 27, 2010.

"We went to dinner and in five minutes, Charlie was rolling on the floor laughing at his own jokes – and I'm doing the same thing," said Buffett, who is now 88, at CNBC in 2018. "We knew we had been made for others, "added Buffett about Munger, who is now 95 years old.

These feelings turned out to be correct, as the two men have always been close friends. And even after being friends for about 60 years and having worked together for over 40 years, Buffett always says that he can "always learn" by spending time with Munger.

This could explain why both friends and partners have never quarreled, even if that does not mean that they agree on everything. "We are strong, we do not agree on a few points," said Buffett. At the same time, Buffett added, "We agree on most things and we have a good time together."

The fact that Buffett and Munger appreciate each other 's company seems to have strengthened their working relationships, and that' s probably also why they do not argue.

"We have a great partnership and business is more fun – just like life is more fun – with a good personal partner and a great business partner," Buffett said. "You know it's just – we accomplished more, but we also had a lot more fun."

Their strong bond is also the result of mutual respect. Munger told CNBC in 2016 that Buffett and he "are not totally in agreement on everything, yet we are very respectful of each other".

There are not too many people I listen to, Buffett told CNBC. "But, Charlie, he's been giving me a lot of good advice over time, and I might hate taking it to some extent, but sometimes – but my decisions have been better." lived a better life because of Charlie. "

Obviously, their relationship has been fruitful, judging by Berkshire Hathaway's incredible track record of outperforming the stock market every year since the 1960s. Thanks to their joint success, Munger now accounts for about $ 1.7 billion, according to a recent Forbes estimate, while Buffett has a net worth of more than $ 84 billion, making it the third richest person in the world.

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