No. of Recommendations: 12
I hope Weitz was picked for the Board solely because he is a hometown boy and not because he is has a good investment record.
Appropriately, Berkshire's requirements for directors are, "In choosing directors, the Company seeks individuals who have very high integrity, business savvy, owner-oriented attitude, a genuine interest in the Company and a significant investment in Berkshire shares relative to their resources for at least three years."
Berkshire has Buffett (for the time being), Abel, Weschler, Combs, Jain, and others in house. We don't need board members to choose whole or partial equity investments for us. We need them to preserve the culture, and I expect Davis and Weitz will excel at that.
