Warren Buffet remembers Charlie Munger; calls him 'Architect' of Berkshire Hathaway

Legendary investors Warren Buffet remembered, paying tribute to his good-old time friend and right-hand man Charlie Munger in his latest annual letter to the shareholders of Berkshire Hathaway. In his homage to Munger, the Oracle of Omaha credited him as the 'architect' of the Berkshire Hathaway.

Munger passed away in November 2023 at the age of 99. He served as the vice-chairman at Berkshire Hathaway and was remembered by Buffet in his letter and first quarterly report following his demise in the late previous calendar. He paid tribute to Charlie Munger for his strong leadership.

"Berkshire has become a great company. Though I have long been in-charge of the construction crew; Charlie should forever be credited with being the architect, said Warren Buffet's annual letter, while hailing the impact of long-term collaborator, Charlie Munger, on Berkshire Hathaway. Buffett said that he carried out the day-by-day construction of his vision.

Buffett highlighted the robust performance of Berkshire's insurance ventures over the past year, while expressing disappointment in the underperformance of its extensive utilities and the BNSF railroad.

He reiterated his commitment to holding onto Berkshire's significant stakes in approximately 30 per cent of Occidental Petroleum and 9 per cent of five major Japanese trading firms, emphasizing that he has no intention of selling these investments. However, he clarified that there are no current plans to acquire the oil producer outright.

In his yearly shareholder letter for Berkshire Hathaway, Buffet conveyed his outlook that 'eye-popping performance' is unlikely in the upcoming months. He remarked, "There remain only a few companies in the United States capable of significantly impacting Berkshire's results."

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