2010: What do Buffett and Munger want to be remembered for in 100 years?

AUDIENCE MEMBER: Good morning, Warren and Charlie. John Norwood from West Des Moines, Iowa.

I have a question on legacy. A hundred years from now, Warren and Charlie, what would each of you like to be remembered for?

WARREN BUFFETT: Old age. (Laughter)

CHARLIE MUNGER: I’ve heard Warren say that what he wants said at his funeral is that’s the oldest looking corpse I ever saw. (Laughter)

I have a different saying that came down from one of my great grandfathers. And I think it — he wanted to be remembered for a fortune fairly won and wisely used. That’s a pretty good system.

WARREN BUFFETT: Yeah, I would — if you really ask me, I’d probably like “teacher.” I enjoy teaching a lot.

Some people think I do a little too much of the didactic stuff, but I like students coming. And, you know, I’ve benefited by some fabulous teachers, starting with my dad, but going on to Ben Graham, going on to Tom Murphy, I mean, lots of great teachers. So I would say that.

I might point out that on Wilt Chamberlain’s gravestone, I think it says, “At last, I sleep alone.” (Laughter)

Well, we have some people from Kansas here, anyway. (Laughs)