Page last updated at 17:23 GMT, Monday, 26 October 2009

Charlie Munger: Boom and bust is normal

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Charlie Munger is Warren Buffett's long-time business partner, and the Vice-Chairman of Berkshire Hathaway.

Like Buffett, he was born in Omaha, but became a lawyer in Los Angeles before meeting Buffett, and becoming a fellow investor. The two spent many hours on the phone together, discussing business, and evolving the approach to investing that has paid off so spectacularly for them both.

Today, Munger says he may only speak to Buffett once a week, but his key influence on the success of Buffett's enterprise over many decades is undisputed.

The Money Programme special 'The World's Greatest Money Maker: Evan Davis meets Warren Buffett', Monday, 26 October, on BBC Two at 2100.

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