Buffett tells investors to ignore Wall Street pundits while paying tribute to Munger

Warren Buffett warns against Wall Street pundits, credits Charlie Munger for Berkshire Hathaway’s success. Insurance thrived but utilities and BNSF railroad disappointed. Buffett plans to keep stakes in Occidental Petroleum and Japanese trading houses. Berkshire reports strong operating earnings and sets stock records. Berkshire’s eclectic mix of businesses, combined with the strong performance of its investments, delivered a profit of $37.57 billion, or $26,043 per Class A share, in the fourth quarter.

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