Investing guru Warren Buffett draws thousands, but Charlie Munger's zingers will be missed
Warren Buffett. But a key ingredient will be missing from his annual Berkshire Hathaway shareholders' meeting: It's the first since Vice Chairman Charlie Munger died.
«He was the sriracha sauce in the Berkshire Hathaway meeting,» said investor Bill Smead, a regular at the event for 14 years. «He gave it a lot of flavor.»
For decades, Munger shared the stage with Buffett every year for the marathon question and answer session that is the event's centerpiece. Munger routinely let Buffett take the lead with expansive responses that went on for several minutes. Then Munger himself would cut directly to the point. He is remembered for calling cryptocurrencies stupid, telling people to «marry the best person that will have you» and comparing many unproven internet businesses in 2000 to «turds.»
He and Buffett functioned as a classic comedy duo, with Buffett offering lengthy setups to Munger's witty one-liners. Together, they transformed Berkshire from a floundering textile mill into a massive conglomerate made up of a variety of interests, from insurance companies such as Geico to BNSF railroad to several major utilities and an assortment of other companies.
Saturday is set to kick off with the company releasing its first quarter earnings a couple of hours before the meeting. In addition to its biggest interests, Berkshire Hathaway owns a vast collection of manufacturing and retail businesses, including Dairy Queen and See's Candy. Its massive stock portfolio is anchored by huge stakes in companies including Apple,
