No. of Recommendations: 3
barrons.com - Warren buffett shareholder letter"it would have been nice to hear from him about why he has confidence in the future management team. They include Greg Abel, 60, the likely successor to Buffett as CEO; Ajit Jain, 71, who probably will remain head of the vast insurance operations, and Todd Combs and Ted Weschler, who now run about 10% of Berkshire's $300 billion-plus equity portfolio and probably will run the whole thing in the post-Buffett era.
Combs and Weschler have been at Berkshire for over a decade. What is their investment performance? Buffett has said little except for a comment four years ago to CNBC that they were slightly behind the S&P 500. How much longer will Jain be running the insurance business? Is Joe Brandon, the former CEO of Alleghany, the insurer Berkshire bought for about $11.5 billion in October, the likely successor to Jain? "
Certainly some criticism is valid. Would love to hear more from Greg, Ajit and Combs and Weschler during the annual meeting.
