- Coca-Cola, American Express and Occidental Petroleum highlighted as indefinite holds
- Above-market returns will be harder for Berkshire in the coming years
Warren Buffett struck a patriotic tone and underlined Berkshire Hathaway's (US:BRK.B) resilience in his first shareholder letter since his long-time partner Charlie Munger died. As always, Buffett kept the explanation of his investment outlook simple, talking about trains as "the most efficient way" of moving heavy materials and pledged "extreme fiscal conservatism" in the face of a downturn.
Buffett called Munger the architect of Berkshire, downgrading himself to the "general contractor" who was responsible for following his former deputy chair's plans. Read our obituary of Charlie Munger here.