Warren Buffett paid tribute to his late friend and business partner, Charlie Munger, during the annual shareholder meeting of their conglomerate in November. The meeting was held in Omaha, Nebraska, where thousands of shareholders gathered to hear from Buffett and celebrate Munger’s contributions to their joint success.
Buffett spoke about a range of topics during the meeting, including renewable energy, artificial intelligence, and his investments in companies like Apple, American Express, and Coca-Cola. However, he also took the opportunity to reflect on Munger’s impact on their partnership. He spoke fondly of Munger’s sharp wit and humor and how they had worked together to build one of the most successful businesses in history.
Munger was known for his integrity and honesty in both personal and business matters. His contributions were honored during the meeting with a video tribute and a celebration of some of his most memorable quotes and moments. Buffett spoke about his trust in Munger for investment advice and shared how he now relies more on himself for decision-making.
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 the risks of artificial intelligence and the potential for scams and misuse of the technology. He emphasized his preference for investing in U.S. companies, with exceptions for specific international investments like in Japanese conglomerates. Buffett’s 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 the future of the company. Buffett’s insights into investments, succession, and technological risks set the tone for
