Berkshire Hathaway Inc. Shareholders Letter

Charlie Munger's impact on Berkshire Hathaway and his role as the architect of the company, as well as Warren Buffett's reflection on their partnership and the company's operating results and investment philosophy.

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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.

Warren Buffett • Berkshire Hathaway Inc. Shareholders Letter