This JPM deal is not the kind of gig one would take if one were in line to run investments for Berkshire post Buffett. It’s less money under management than he has even now. Then again, Warren didn’t exactly give Combs a ringing endorsement at the AM saying Greg will decide what to do with investments and the fate of those currently involved.

Hamburg has been Warrens right hand man for decades—he’s been the guy who executes daily what Warren wants to do. He’s been fantastic. But yes Warren’s personal guy. Greg is bringing his own guy—it appears his own version of Mark Hamburg. Makes total sense. And Hamburg is due for a well deserved retirement, I would not be surprised if he stayed around a few extra years as loyalty to Warren. And now guiding through a 6 month transition, total class and stud.

Don’t see what the big deal is here. Combs has been in limbo. He did a nice rescue fix it job at GEICO but his investment results were apparently mediocre-at-best over the long term. And Warren holds long term scorecards.

If Combs was seriously in line here a.) he’d know by now…b.) he’d never have left for this job.