No. of Recommendations: 25
Greg has done a good job with the capital allocation. Hmmm. Opinions differ. For someone who doesn't just take that as a given:
He spent many years as boss of MidAmerican, and we ran smack into the problem that the capital was all allocated with much more risk than he appreciated, without state level financial firewalls, endangering the whole edifice. It relied not only on the kindness of regulatory strangers, but the whole thing relied on the kindness of each small set of strangers.
And he has been in charge of non-insurance operations for several years now. Earnings in that entire division shown here in pink.
https://www.stonewellfunds.com/BerkshireTwoColumnR...I'm not saying he's bad, I presume Mr Buffett knows his skills well and has deemed him not to be a fool. But I think it's fair to say that there is missing or at best conflicting evidence that he's good at capital allocation.
Jim