That hasn’t swayed Buffett to join their ranks. He built Berkshire into a sprawling conglomerate over the past five decades, largely by buying businesses and leaving management in place. The Omaha, Nebraska-based business now has more than 80 subsidiaries, ranging from auto insurer Geico to railroad BNSF.
Munger “told me 20 years ago, if you want to guarantee yourself a life of misery, marry someone with the idea of changing them,” Buffett said. His preferred approach in investing is to back companies where he can “join in the spirit of the whole organization.”
For people who go into relationships seeking change, “You’ll be miserable the rest of your life,” Buffett said. “I’m just not looking for that kind of trouble.”