[Special Report] Buffett's partner, Mr. Munger, dies and learns investment techniques with quotes

It is known that in public places where tens of thousands of people gather, such as the annual general meeting in Berkshire, Mr. Munger handed over the microphone and the limelight to Mr. Buffett and made the audience laugh by stating “I have nothing in particular to add.”

Meanwhile, in private, there were many situations where Mr. Buffett followed Mr. Munger. In 1971, Mr. Munger persuaded Mr. Buffett and bought Seed's Candies, which sells chocolate confectionaries, at a price equivalent to 3 times its net worth. Mr. Buffett later recalled that “it was an exorbitant price,” but seeds have brought cumulative profits of about 2 billion dollars (295 billion yen) to Berkshire over decades.

Mr. Buffett mentioned in 2015, “With this acquisition, I put an end to 'cigar butt' investments, that is, pursuing mediocre companies at bargain prices, and began to pursue wonderful businesses that are sold at (reasonable) prices.” “Charlie had been urging this policy for a few years, but I was slow to learn,” he said.

Mr. Buffett gave him the nickname “Abominable Norman” because Mr. Munger thoroughly rejected potential investment destinations, etc. There is also a possibility that Mr. Buffett would have made these investments if Mr. Munger did not refuse.

Meanwhile, it is also known that Mr. Munger, who was fascinated by engineering and the latest technology, strongly encouraged Mr. Buffett, who hates high technology, to make big bets with China's BYD (BYD), which handles batteries and electric cars, and the Israeli tool manufacturer Iscar.

Buffett said in 2015 he was taught by Mr. Munger that “we should forget to buy fair businesses at great prices, and buy great businesses at fair prices instead.” Furthermore, it was stated that Berkshire was “built based on Charlie's blueprints.”