If there is another opportunity to spend a day with Munger, what would Buffett like to do?

It can be said that although Charlie Munger, who is 99 years old, was absent from the 2024 Berkshire Hathaway shareholders meeting due to his passing, his presence was felt everywhere, especially in the famous Q&A session with Warren Buffett.

Not only was the mysterious short film shown for the first time at the annual meeting dedicated to Munger, but this year, the only book sold at the shareholders meeting was the latest edition of "Poor Charlie's Almanack," and Buffett would sometimes mistakenly refer to those around him as his "Charlie big brother."

Buffett: Being with Munger is happier than being alone, everyone should ask themselves who they want to spend their last day with

During the morning session's Q&A, a young child was curious about what Buffett would do if he had the chance to spend another day with Munger.

Buffett mentioned that he and Munger do things that make them happy every day. Munger loves learning and is interested in many things, with a broader range of interests than Buffett. The two share similar interests, and the time spent together is happier than being alone:

"Our joy comes from making mistakes together, correcting them together, and learning from them. It seems to be more joyful because your partner helps you get out of trouble, and then you see that decisions made ten years ago can still make money now."

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

"I have never seen anyone like Munger, who reached the peak of his life at the age of 99, and everyone in the world wants to come find you. Munger once said that it would be great if he knew which day he would die, so he would never walk towards that day."

At this point, thinking about the humor of his old friend, Buffett couldn't help but laugh. He also mentioned that people tend to get smarter as they get older because they can learn and grow from their mistakes:

"We still find the world interesting. At our age, I asked Munger who he would most like to have dinner with in 2000, and Charlie said he had already met them all.

Everyone should ask themselves who they want to spend their last day with, and then go meet them now and do things with them."

Touching Moment: Buffett accidentally says, "Charlie, it's your turn to answer"

A rather touching moment occurred during the third question in the Q&A session. After Buffett finished his answer, he turned to Greg Abel, the CEO successor and head of all Berkshire businesses except insurance, but accidentally said "Charlie."

Buffett immediately explained, "I'm used to it. I've reminded myself many times not to make mistakes, but I still do. I made a mistake again, and I might say it again later." Abel mentioned that being mistaken for Munger would be "a great honor."

Some analysts pointed out that this moment highlighted the strong friendship between Buffett and Munger. Attendees at the meeting described it as one of the most exciting moments of the annual meeting

Some netizens displayed Buffett and Munger dolls sold on site, as if they had once sat side by side on the chairman's podium at the shareholders' meeting, and quoted the lyrics of American rapper Puff Daddy in the song "I'll be missing you":

"As if it were yesterday, we rocked out together, I held onto the beat, you locked in the rhythm, life is not always the same as before, words cannot express your significance to me, even if you are gone, we are still a team together."

Another netizen posted a photo from the scene: Buffett and Munger appeared together in a short film, but in reality, only Buffett was on the podium.

Berkshire's First Public Annual Meeting Secret Film, Solely to Commemorate Munger

Before the Q&A session, this year's meeting released a short film detailing Munger's life.

It includes his life in Omaha, Nebraska, where both Munger and Buffett were born and raised, just two miles from the venue of Berkshire's annual meeting. Munger even worked at Buffett's family grocery store, although he did not know Buffett at the time.

The film also showed historical footage of Munger at shareholder meetings and a collection of sharp comments over the years.

For example, at a meeting in 2015, he said, "If people didn't make mistakes often, Buffett and I wouldn't be so wealthy." Buffett regretted not shutting Munger up.

For instance, the film shows Munger saying at a shareholder meeting in the early years, "If I can remain optimistic when I'm about to die, then the rest of you can certainly deal with a little inflation."

There is also a segment where Munger says, "The correct way to make decisions in real life is based on your opportunity cost. When you get married, you have to choose the one that suits you best. The same goes for the rest of your life (making decisions)."

Some analysts believe that in this deeply moving and somewhat humorous film, Buffett pays tribute to his long-time friend and business partner, reiterating that Munger is the "architect of Berkshire," the "genius who provides the blueprint," while Buffett himself is just a "contractor doing the work." Warren Buffett praises Charlie Munger for his absolute honesty and recommends everyone to buy the latest version of "Poor Charlie's Almanack."

During the entire Q&A session, Buffett always involuntarily "cues in" Munger.

When asked about "how to find true idols/mentors in life, how to make good friends, etc.," Buffett stated that having a suitable life idol is very important. Both he and Munger have had someone who continuously loves them, even when they break some rules. He emphasized the importance of having a suitable hero to admire, depending on the kind of person you want to become. Choosing the right idol puts you on the right track, not just in terms of making money, but in life as a whole.

When evaluating Berkshire's investment strategy, Buffett mentioned that BYD and Costco are the two stocks Munger believes Berkshire most needs to buy. Buffett regretfully admitted that he hasn't listened enough to Munger.

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

"I also completely trust my children and wife, but that doesn't mean I will ask them what stocks to buy. In terms of managing funds, for decades, no one in the world is more suitable for conversation than Charlie."

Buffett stated that Munger's "absolute honesty" is one of the reasons he became an important partner to Buffett. This honesty permeates Munger's work and personal life:

"When you encounter such things in life, you will cherish such people and forget about others."

Some shareholders noticed that without Munger present to make witty remarks, Buffett's speech seemed more focused on discussing Berkshire's business, with a sense of "business as usual."

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

Buffett mentioned that to commemorate Munger, the latest version of "Poor Charlie's Almanack" will be the only book sold at this year's Berkshire Hathaway shareholders meeting, with around 2400 copies sold on Friday. Buffett noted that in previous years, around 25 books were usually sold at the meeting.

Buffett's closing remarks at the end of the Q&A session seemed to echo Munger's absence. He jokingly said, "Hope you all come next year, hope I also attend next year." Previously, Buffett mentioned that he doesn't think he should sign another four-year contract as the helm of Berkshire Hathaway