Warren Buffett went deep to explain the admiration he has for his deputy and Berkshire Hathaway Inc. BRKA BRKB Deputy Chairman Charlie Munger and the equation they share.

Think pretty similar: “Charlie and I think quite alike,” Buffett said in his annual letter to Berkshire shareholders, released Saturday. “But what I need a page to explain, he sums it up in one sentence,” said the celebrated investor. Buffett added that Munger’s version has always been “clearly reasoned” and more artfully worded.

See also: Is Berkshire Hathaway (BRKA) Stock a Good Buy?

Buffett also shared some of Munger’s thoughts from a recent podcast. Among the nuggets shared was how Munger got his way with Berkshire’s CEO. “Warren, think about it more. You’re smart and I’m right,” Buffett said, explaining that those two short sentences have been his “decision makers” for decades.

Makes me think, makes me laugh: The Oracle of Omaha shared a statement that could be included in Munger’s rule list. “Find a very smart, high-profile partner — preferably a little older than you — and then listen very carefully to what they’re saying,” Buffett said, apparently referring to Munger as the older, smart, high-profile partner. Munger is 99 years old, about seven years older than Buffett.

In a lighter way, Buffett noted that last year’s AGM in Omaha After a three-year hiatus due to COVID-19, he and Munger greeted guests with peanut brittle and chocolates from the See-Kiosk. “After all, what else could make Charlie and I make it to 99 and 92 besides See’s candy?” he said.
“I never phone Charlie without finding out something. And while it makes me think, it also makes me laugh,” Buffett said.

Continue reading: Why Warren Buffett prefers public companies to controlled companies