In the wake of Charlie Munger's passing, the 2024 Annual Meeting started with a poignant tribute, a short film chronicling the life of the remarkable man who had been Warren Buffett's steadfast friend and partner for over six decades. From their humble beginnings in Omaha, Nebraska, where they were born and raised just a stone's throw away from the very arena hosting Berkshire's annual gathering, the film painted a vivid portrait of Munger's journey.
It was not merely a recollection of events but a celebration of Munger's wit and wisdom, interspersed with his memorable quips that had become legendary in investment circles. As the audience chuckled at his famous lines like "if people weren’t so often wrong, we wouldn’t be so rich," there was a palpable sense of reverence for the man who had left an indelible mark on their lives.
As the film closed and lights were turned on, thousands of shareholders rose to their feet, a collective tribute to a giant among men. Buffett, visibly moved, once again hailed Munger as the architect of Berkshire Hathaway, a testament to the profound impact he had on the conglomerate they had built together.
In a touching gesture, the exhibition hall's book stall featured only copies of Charlie Munger’s book "Poor Charlie’s Almanack." The book stall, apart from See's Candies and Fruit of Loom store which often sells apparels with caricatures of Buffett are the most shopped stalls at the exhibition hall. A placard read, “At the request of Mr. Buffett and in honor of Charlie Munger the only book sold at 2024 Annual Meeting is the new edition of Poor Charlie’s Almanack: The Wit and Wisdom of Charles T Munger.”
Amidst the gathering of long-time Berkshire investors and value investing enthusiasts from around the globe, the Annual Meeting took on a somber yet reverent atmosphere. For most regular attendees, the Berkshire Annual Meeting is more than just a financial event; it is a pilgrimage to reaffirm their commitment to the timeless principles of value investing that Buffett and Munger have championed throughout their illustrious career spanning 60 years.
The presence of Munger lingered throughout the meeting, with frequent references to duo’s ways and even a slip-up from Buffett, who momentarily addressed Greg Abel as Charlie. Yet, far from being a mistake, it was a poignant reminder of Munger's enduring influence. Abel's gracious response, acknowledging “the honor” of being mistaken for Munger, only served to reaffirm his place within the Berkshire family. Sigh!
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