Warren Buffett honors Charlie Munger on a challenging day for investors

The Woodstock of Capitalism, Berkshire Hathaway’s annual shareholder meeting, took on a new vibe this year as Warren Buffett faced the crowd without his longtime partner, Charlie Munger. Munger, who passed away last year, was honored and remembered throughout the event, with Buffett describing him as the “architect of Berkshire.”

The meeting was attended by top executives like Tim Cook, Jane Frasier, and Bill Gates, who joined in applauding Munger’s legacy. Buffett spoke of Munger’s unparalleled wisdom and influence, highlighting his role in advocating for investments in companies like BYD and Costco.

Executives from Berkshire-owned companies also paid tribute to Munger, describing an atmosphere of gratitude and reflection. Maria Hokanson of Dairy Queen and Pat Egan of See’s Candies emphasized Munger’s impact on the company’s values and operations.

Despite Munger’s absence, his presence was felt throughout the meeting, with Buffett even mistakenly calling his successor, Greg Abel, “Charlie” to cheers from the audience. The unique partnership between Buffett and Munger was evident as Buffett reflected on their shared experiences and mutual trust.

As the meeting concluded, attendees were left with a sense of loss but also a deep appreciation for the legacy of Charlie Munger. His wisdom and influence will continue to shape Berkshire Hathaway and the investing world for years to come.