Remembering Charlie Munger: Warren Buffett’s Tribute to his Late Partner at Berkshire Hathaway’s Annual Shareholder Meeting

In November of last year, Warren Buffett, the world’s most famous investor, lost his longtime partner and confidant, Charlie Munger. Munger was known as the Oracle of Omaha and was considered one of the most successful businessmen in history. The annual shareholder meeting of their conglomerate, Berkshire Hathaway, became a tribute to Munger by Buffett.

The meeting began with a video honoring Munger’s contributions to their joint success. Buffett spoke about various topics including renewable energy, artificial intelligence, and his investments in companies like Apple, American Express, and Coca-Cola. However, most notably, he spoke about Munger’s impact on their partnership.

Munger was known for his sharp wit and humor which he was not afraid to use even when criticizing artificial intelligence. The assembly reflected on some of Munger’s memorable quotes and moments while reflecting on his integrity and honesty in both personal and business matters. Buffett spoke about his trust in Munger for investment advice but now relies more on himself for investment decisions.

The meeting also touched on Buffett’s succession plans and reflected on the company’s investment decisions including a significant reduction in holdings of Apple shares. Despite the decrease in Apple stock, Buffett expressed confidence in the company’s long-term potential. He highlighted how the sale of these shares had increased Berkshire Hathaway’s liquidity position to record levels.

Buffett also expressed concerns about technological risks such as artificial intelligence and emphasized his preference for investing in U.S companies with exceptions for specific international investments like Japanese conglomerates. His commitment to philanthropy was evident as he shared a story of a generous donation made using Berkshire shares to fund free tuition for medical students.

In conclusion, the Berkshire Hathaway shareholder meeting was a time for reflection on Charlie Munger’s legacy and future prospects for the company. Buffett’s insights into investments