Warren Buffett calls out stock-market gamblers and honors the late Charlie Munger in his annual letter

• Warren Buffett hailed Charlie Munger as the "architect" of Berkshire Hathaway in his annual letter.
• The investor also called out stock-market gamblers who buy "hot stocks" and "lottery tickets."
• Buffett dismissed forecasters, warned Berkshire's scale is a challenge, and nodded to the AI frenzy.

Warren Buffett paid tribute to Charlie Munger, touted four of Berkshire Hathaway's biggest bets, and voiced frustration in his annual letter to shareholders published on Saturday.

The famed investor and Berkshire CEO also called out stock-market gamblers and speculators, dismissed Wall Street forecasters, and even nodded to the AI craze while championing his hometown of Omaha, Nebraska.