Subject: Re: Rational Walk on retained earnings test
Should have added, post Ajit too. He's a silent partner but has added as much value as WEB (float and insurance nouse) a genius in his own right.

I note there was some concern following the AGM a few years ago about his health and longevity. He's another one off and cannot be replaced.

It'll be hard to replicate the "Three Amigos"and the informal / fluid setup to decision making with an investment committee headed by a general manager (Abel) from an operations and management background rather than an investment background (with a feel for the markets). "Be Greedy when other are fearful etc etc and with conviction.

In order to move the needle, bigger bets will have to be made during times of distress. This is where WEB thrives, I can't see a committee doing likewise?

So likely BRK will tick along and generate book value growth of 6-8% long term and likewise the share price?