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Warren Buffett and Charlie Munger: The Omaha ties that bind

In 1959, Warren Buffett met Charlie Munger, the beginning of a partnership that has spanned decades and created billions in corporate and personal wealth. Since their fateful meeting, they've built Berkshire Hathaway into one of the world's most successful companies.

"We've had so much fun in our partnership over the years," Buffett told CNBC in a joint interview with Munger, who called the partnership "almost hilarious, it's been so much fun."

Warren Buffett is Chairman and CEO of Omaha-based Berkshire Hathaway, where Munger serves as vice chairman, and is six years Buffett's senior.

Few relationships last as long or are as lucrative as their partnership. So what's their secret?

"Obviously, we like each other a lot." Buffett explained. "We have minds that work the same way to a great degree. We find the same things quite humorous (and) the things we deplore we agree on."

Munger added they "don't agree totally on everything, and yet we're quite respectful of one another." Buffett told "On The Money" that whenever they do disagree, "Charlie says, "Well, you'll end up agreeing with me because you're smart and I'm right."

Buffett adds he's still looking for...