Warren Buffett gears up to meet investors sans Charlie Munger by his side
Warren Buffett will command centrestage at Berkshire Hathaway's annual meeting on Saturday, but someone who won't be there is his influential sidekick Charlie Munger.
The meeting is Buffett's 60th since he took over Berkshire in 1965 and the first since the death of his longtime friend, business partner and foil Munger at age 99 in November.
His absence has renewed shareholders' focus on how the company will evolve when Buffett no longer runs it. Buffett, 93, whose legendary investment acumen inspired the nickname Oracle of Omaha, has largely stopped appearing publicly to discuss the company. He told investors in November that he felt good but knew he was «playing in extra innings.»
«It's going to be hard for Warren to not have Charlie there,» said Paul Lountzis, president of Lountzis Asset Management.
He is attending his 32nd Berkshire meeting, part of a weekend Buffett has dubbed «Woodstock for capitalists.» Anecdotes and repartee between Buffett and Munger have been highlights of past meetings. Munger was known for his laconic and acerbic comebacks to Buffett's often lengthy appraisals of Berkshire, the economy, Wall Street and life.
At a downtown Omaha arena, Buffett and Vice chairman Greg Abel, 61, will answer about five hours of questions. Vice chairman Ajit Jain, 72, who runs Berkshire's insurance operations, will also join.
Abel, who oversees Berkshire's non-insurance businesses, was designated Buffett's successor as chief executive in 2021.
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