Charlie Munger — Warren Buffett s longtime business partner, sidekick and sounding board — will be missed when Berkshire Hathaway’s shareholders gather again in Omaha this week.
Charlie Munger — Warren Buffett s longtime business partner, sidekick and sounding board — will be missed when Berkshire Hathaway’s shareholders gather again in Omaha this week.
The famous investor s company owns scores of businesses including Geico, See s Candies, and the BNSF railway, as well as billion-dollar stakes in Apple, Bank of America, Coca-Cola, Kraft Heinz, and other public companies.
As a result, Berkshire was hit hard when the COVID-19 pandemic spurred authorities to impose lockdowns, shutter non-essential businesses, and roll out travel restrictions last spring.
Buffett initially took cover, selling Berkshire s stakes in the big four US airlines and slashing its positions in JPMorgan, Wells Fargo and other financial stocks in the second quarter of last year. The approach surprised many commentators who had expected the investor to deploy a chunk of Berkshire s roughly $130 billion cash pile when markets tanked.