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Over the last 70 years, value stocks clocked a 13.4% average annual return, vs. 10.2% for growth stocks, according to Ibbotson Associates.

Berkshire's No. 2 man helps from the background

The two men who run Berkshire Hathaway Inc. have an arrangement: Warren Buffett is the face of the company and Charlie Munger stays mainly in the shadows. That works well for the two billionaires, who together have developed one of the most successful investment records ever.

But while Munger downplays his own contributions -- he is known for repeating "I have nothing to add" after Buffett's expansive comments at the Berkshire shareholder meetings -- his role is key to much of the company's success.

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Two Friends Transformed Behavioral Finance

Take a look at “The Four Filters Invention of Warren Buffett and Charlie Munger. Two Friends Transformed Behavioral Finance.” Paperback. ISBN 978-0-6152-4129-6
http://www.lulu.com/content/3215722

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