University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

by Daniel Pecaut

(Buffett joked that buying The Buffalo News was Munger’s idea: Munger was stuck in Buffalo during a blizzard, and he called Buffett to ask what he should do. So Buffett told him to go out and buy a paper.)

Munger, on what Warren wants said at his funeral: “That’s the oldest looking corpse I’ve ever seen.”

He quoted Berkshire board member Tom Murphy: “You can always tell a man to go to hell tomorrow if it’s such a good idea.”

Buffett joked that he and Charlie were hijacked by terrorists who decided to shoot the capitalists. They allowed them one last request. Charlie said, “I would like to give once more my presentation on the virtues of Costco with slides.” The terrorists reluctantly agreed. Then they asked Warren for his last request. Buffett said, “Shoot me first.”

Noting he had a great grandchild in the audience, Buffett said, “If you hear crying, it’s just his mother explaining my views on inherited wealth.”