Investment Strategies / Mechanical Investing
No. of Recommendations: 1
Kind of an erratic answer IMO. Did he present a detailed investment philosophy?
But maybe I was expecting some kind of pithy Buffett like statement like, rule number one, don’t lose money!
Seems like this question made him nervous. But maybe I’m nit picking.
No. of Recommendations: 0
What was Warren talking about with the big problem and wanting the government to come in and help? Figuring out and mitigating the risks of big energy projects, like wildfires?
No. of Recommendations: 4
Electric Grid modernization
No. of Recommendations: 1
They sound very frustrated over the process, and lack of progress.
No. of Recommendations: 7
The cringe questions from several in the audience are making me frustrated !
hot dog company
and the woman asking a long winded question on wanting an hour of Warren's time in his office. He basically cut her off which he rarely does.
No. of Recommendations: 1
Kind of an erratic answer IMO.
I agree; that answer was very word-salady. Hope Abel has capital allocation priorities straight & he was just a bit nervous.
No. of Recommendations: 14
I disagree with you here my Car Dude:-). I thought he gave a stock answer that you would expect from a Berkshire executive which is what I wanted to hear. He talked about cash as a strategic advantage, prudent risk management and when it came to owning "pieces of a company" he basically deferred to the people that do that which is fine because he's an operator, not a stock picker. For me that was the key part even if it rambled a little bit. I mean if we were going to punish Berkshire CEO's for rambling a bit Warren and Charlie would've been in jail by the mid nineties! :-)
No. of Recommendations: 2
Yeah, in retrospect I think I was just being hypercritical
No. of Recommendations: 9
Speaking of investment philosophy, Ted Wechsler's name does not appear one single time in the 2025 annual meeting transcript. Todd was only mentioned once - in a question by Becky to Ajit in relation to GEICO operations and cost cutting.
The silence speaks volumes.
No. of Recommendations: 0
I don't have an opinion of Ted.
But wrt Todd: I listened to a Q&A podcast with him 2-3 years ago and was not that impressed. My take-home was a that of a Florida bro.
Not that a frat bro can't be a good investor, or a good arms-length employee, but there's a cultural disconnect between that and what's been built in Omaha.
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With Greg, I'm firmly in the benefit-of-the-doubt camp.
-- sutton
free opinions anytime
https://wapo.st/4iPPHKp
No. of Recommendations: 3
I'm not sure a lot can be inferred from no mention of Ted. He seems a low key type. A few years ago in the annual letter, Buffett, in his self-deprecating way made mention of Ted and Todd's investment acumen by confessing in a parenthetical that they had both done better than he in their selections in their about 10 year history (at the time) with Berkshire. He made the parenthetical in a really tiny font, which brought a smile.
Frankly, I think the leadership shuffle may enable Greg, or Ted or Todd (if Todd isn't too busy with Geico), to allocate more capital than they may have been previously permitted. Maybe an order of magnitude more. Maybe they'll buy Disney, or USAA, or who knows what.
