An investment legend died last week at the age of 99. He would have been 100 years old on January 1st. Many of you will not recognise his name or even that of his 93 year old investment partner – Warren Buffett.
Together they have built the largest conglomerate in the would, currently valued at $780 billion. A conglomerate is a company that owns other companies across diverse sectors from running shoes to railroads. If Berkshire Hathaway was a fund it would be 4 times larger than the next largest actively managed fund in the US.
Why is his death important?
We all own some shares in Berkshire Hathaway. There is no concern that the outstanding growth that has been achieved by BH in the past will suddenly stop. We will continue to hold Berkshire Hathaway across our managed portfolios. The succession plans within BH have been in place for over a decade with much of the day to day decision making having been delegated to other long-standing senior directors.
Continue reading “Charlie Munger”