Graham's most famous student, however, is Warren Buffett, who ran successful investing partnerships before closing them in 1969 to focus on running Berkshire Hathaway. Buffett was a strong advocate of Graham's approach and strongly credits his success back to his teachings. Another disciple, Charlie Munger, who joined Buffett at Berkshire Hathaway in the 1970s and has since worked as Vice Chairman of the company, followed Graham's basic approach of buying assets below intrinsic value, but focused on companies with robust qualitative qualities, even if they weren't statistically cheap. This approach by Munger gradually influenced Buffett by reducing his emphasis on quantitatively cheap assets, and instead encouraged him to look for long-term sustainable competitive advantages in companies, even if they weren't quantitatively cheap relative to intrinsic value. Buffett is often quoted saying, "It's better to buy a great company at a fair price, than a fair company at a great price."