REFRESH: Warren Buffett & Charlie Munger: Taking the High Road (part 2)

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 28 December 2021

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

In part two of a series of Squawk Pod episodes - Berkshire Hathaway CEO Warren Buffett and Vice Chairman and long-time partner and friend Charlie Munger recount their humble origins at the same Nebraska grocery store, tracing their nearly 70-year-long journey through their worst trades and best influences. The two discuss Berkshire Hathaway succession plans and the links between being the bigger person and making the bigger profit in conversations with CNBC’s Becky Quick spanning the last 15 years. In reflections exclusive to this podcast, Becky Quick discusses the “Buffett-Munger magic” and the duo’s secrets to building a full life as well as a full portfolio. Warren Buffett Archive: https://buffett.cnbc.com/warren-buffett-archive/ Berkshire Hathaway Portfolio Tracker: https://www.cnbc.com/berkshire-hathaway-portfolio/ Sign up for CNBC’s Warren Buffett Newsletter: https://buffett.cnbc.com/2018/08/15/warren-watch.html Highlights of the 2021 Berkshire Hathaway Annual Meeting: https://buffett.cnbc.com/2021-berkshire-hathaway-annual-meeting/ Warren Buffett’s not-very-active Twitter @warrenbuffett Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie Squawk Box, @squawkcnbc

Transcript

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0:00.0	This is
0:05.0	Cwak Pod. I'm C. N. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C.
0:10.0	Today, part two of a wealth of Wisdom, Our Special Series with Warren Buffett.
0:14.9	Becky Quick sits down with the Oracle of Omaha,
0:18.5	91 years young, with insights to share, for profit profit and personal.
0:23.2	You really want people to ride you that are better than you are and you'll move in that direction.
0:28.0	One of those, his partner of nearly 60 years Charlie Munger, the Buffett Munger magic.
0:33.8	The way to get a good partner was to be a good partner.
0:36.9	These are very old-fashioned ideas.
0:39.4	And they just worked so fabulously well, and they work so well at Berkshire.
0:43.0	And with a succession plan publicly in place, how Berkshire hopes to maintain that culture.
0:48.0	We always know both of us that there was more money on the high road than there was on the low road.
0:53.0	Trasing their roots back to a small town Nebraska grocery store.
0:56.7	That was the last time I did any real work actually.
0:59.4	And staying smart, savvy, and successful for all these years.
1:03.0	I always behaved like it was 100 years old when I was young.
1:06.0	You know, time is the old one of limited assets.
1:08.0	Plus, a $600 billion business can't be all all the time.
1:13.1	The dumbest stock I ever bought was drum roll here,
1:16.3	Berkshire Hathaway.
1:17.3	And Becky Quick reflects on covering the business
1:20.1	and the friendship of the men who built it.
	...

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