Everyone is aware that Berkshire has a large asset base throwing off circa $40b odd in cash flow annually. It is how that is going to be used by Abel that is the core question.

Sure glad you've rejoined the conversations ppant. I've been trying to hammer on this same subject. And we're not alone.

Hope isn't a plan. But holding on for a major market downturn can be. I just read a Fortune article on Apple News but the link in behind a subscription wall. It said, after looking at 400 years of recessions histories, that they aren't forecatable. It's always an unanticipated shock. But wars and energy shocks are prominent in history. The author did the bulk of the work on his own, but is now the chief economist for XOM. Does this one qualify?

So that might provide the next opportunity.

There's also some 2025 developments in regulations for PE firms that could improve the outlook. But I'm still digging deeper to be sure I understand. They involve how PE firms can reinvest float from insurance operations.