Berkshire Hathaway CEO Warren Buffett wrote in his annual letter that Charlie Munger was the firm's “architect' while he was the 'general contractor.'
Berkshire Hathaway's CEO Warren Buffett remembered Charlie Munger, the conglomerate's former vice chairman, as the "architect" of the company and as a formidable partner in his first annual letter to shareholders since Munger’s death. "Charlie was the ‘architect’ of the present Berkshire, and I acted as the ‘general contractor’ to carry out the day-by-day construction of his vision," Buffet wrote in the letter to shareholders.
The primary difference between the mandated figures and the ones Berkshire prefers is that we exclude unrealized capital gains or losses that at times can exceed $5 billion a day," Buffett wrote. "Ironically, our preference was pretty much the rule until 2018, when the "improvement" was mandated. Galileo’s experience, several centuries ago, should have taught us not to mess with mandates from on high. But, at Berkshire, we can be stubborn.
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