'The architect of Berkshire Hathaway’: Warren Buffet pays tribute to Charlie Munger in letter to shareholders

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Also Read: Warren Buffett’s Berkshire Hathaway Trims Its Massive Stake in Apple ‘’With much back-sliding, I subsequently followed his instructions. Many years later, Charlie became my partner in running Berkshire and, repeatedly, jerked me back to sanity when my old habits surfaced. Until his death, he continued in this role and together we, along with those who early on invested with us, ended up far better off than Charlie and I had ever dreamed possible,'' added Buffet.

The investment mogul went on to add that in reality, Charlie was the “architect" of the present Berkshire, and he acted as the “general contractor" to carry out the day-by-day construction of his vision. Munger never sought to take credit for his role as creator but instead let Buffet take the bows and receive the accolades. ‘’In a way his relationship with me was part older brother, part loving father.

Even when he knew he was right, he gave me there ins, and when I blundered he never –never –reminded me of my mistake,'' recounts Buffet. ‘’In the physical world, great buildings are linked to their architect while those who had poured the concrete or installed the windows are soon forgotten. Berkshire has become a great company.

Though I have long been in charge of the construction crew; Charlie should forever be credited with being the architect,'' said Buffet. Buffet's Berkshire Hathaway posted its second straight record annual operating profit, with its insurance business benefiting from improved underwriting and higher income from investments as interest rates rose. The conglomerate's net income also reached a record $96.2 billion, as the rising stock market boosted the value of Berkshire's $354 billion equity portfolio, half of which is in Apple.