We all got to read the tea leaves our own way!

Ted and Todd are being provided opportunities for understanding businesses within the fold. Besides the cliché “you are a better investor if you are a better business manager”, there’s something fundamental about Warren Buffett’s own evolution. Everyone is still fixated with his ungodly investing performance during the early years but the few choices on outright ownership nearly rendered the entity an also-ran and possibly a dinosaur. Buffett is a terrible operating manager and it took folks like Bottle, Gottesman, Murphy et al to save Berkshire. Munger’s drilling helped Buffett overcome the haloed Graham approach. It worked for the millions, not the billions, let alone the soon to be trillions.

No, they don’t want that part of history to repeat itself with T&T. Greg will help educate. He’s a great operator , the biggest takeaway for me this annual meeting.