The Architect
“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 Buffet
This quote is the final line of the page-one tribute that Warren Buffett paid to Charlie Munger, who passed this past December, in his latest letter to shareholders issued last weekend. As many of you probably know, Charlie Munger was Warren Buffett’s long-time partner running Berkshire Hathaway and instrumental in shaping its investing strategy.
The letter is, as always, chock-full of investing wisdom and plain language wit readers have come to expect. We admire Berkshire’s consistent, patient, and relatively simple (but not easy!) approach. That’s why it is among the largest company holdings for our clients and why many of Berkshire’s principles permeate our own investment discipline and process. In fact, we contributed our own nod to Mr. Munger in our market letter that we published in January.
But it was something else that resonated deeply this time: the idea of the architect vs. the general contractor. In his usual humble way, Warren was giving Charlie the credit as the true “creator” and vision behind Berkshire Hathaway. It was beautiful in its simplicity too – 414 words typed on a single page. And in a subtle yet powerful statement, Berkshire’s summary of the Company’s historical performance—the first page of the annual letter for twenty-plus years—was relegated to a footnote at the back.
We’ve long said that our clients are the heroes of the Tschetter Group story. You are the creators, the architects. We get the privilege of helping you craft and carry out the vision. We intend to be your preeminent general contractor, ably constructing the financial plan and investment portfolio that will propel your vision to its highest and fullest realization.
So please don’t hesitate to reach out any time there’s a new vision to realize or a change to the building plans already in place. We’ll be here, with our sleeves rolled up, ready to get to work.
With optimism,
Peter Jacobs, CFA®, CFP®, SENIOR PORTFOLIO MANAGER
The content of this article is provided for general information purposes only and is presented solely as our opinion. The information was compiled from sources that we believe to be reliable, however, we cannot guarantee its accuracy, completeness, or timeliness. This article is based on the information available to us as of the date of this article and may change at any time. Tschetter Group does not provide tax and legal advice. Please consult your legal and tax professional for specific information.
