Warren Buffett credited his longtime partner with being the architect of the Berkshire Hathaway conglomerate he’s received the credit for leading and warned shareholders in his annual letter not to listen to Wall Street pundits or financial advisors who urge them to trade often.
Buffett said “Charlie was the ‘architect’ of the present Berkshire” who realized early on that it was better to buy wonderful businesses at fair prices. “Charlie never sought to take credit for his role as creator but instead let me take the bows and receive the accolades,” Buffett wrote. “In a way his relationship with me was part older brother, part loving father. Even when he knew he was right, he gave me the reins, and when I blundered he never – never – reminded me of my mistake.”
Munger’s death served as yet another reminder that Berkshire will one day have to move forward without the 93-year-old Buffett at the helm. Berkshire has established a succession plan and vice chairman Greg Abel will one day replace Buffett as CEO while the company’s two other investment managers will take over the stock portfolio. Abel has already overseen all of Berkshire’s many noninsurance businesses since 2018. To a great extent, Berkshire lets its companies run themselves on a day-to-day basis while headquarters decides where to invest all the cash they generate. Buffett told investors in his letter that Abel “in all respects is ready to be CEO of Berkshire tomorrow.”
この記事は Indian Economy & Market の March 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
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この記事は Indian Economy & Market の March 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
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