What happens after Buffet? Yes, he's trained and worked with a successor or 2. I guess in layman's terms: Dad is going to leave the store. Wally and the Beaver are gonna be in charge. Do we feel they'll continue things the same way? Or will it be "let's go a new direction"? And do you as investors want methods and practices to stay the same or change?

I think it will be the same for a long time, and that's the way I want it. The Berkshire culture will be preserved.

At some point activist investors might try to force a breakup to "unlock shareholder value". If they succeed it would get them a quick buck at the expense of long-term investors.

Just wondering how the future looks if I were to depend on this one for some college expenses, and like I said - long term 6% yearly.

I'm planning on living off a self-created Berkshire dividend when I retire, which will be this year if I can learn or force myself to say no, finally. A return of 6% real should be very do-able. 4% real would keep my family in the style to which they've become accustomed (they like the good milk).

Berkshire is a great choice in taxable for a US based investor. Keeps up with or slightly outperforms the S&P500 with no taxes to pay until you choose to. I'm betting that will continue post-Buffett, but I acknowledge the risk. And hedge it somewhat by having all our tax-deferred in other things.

Regarding college costs specifically it might be worth looking into a 529 plan, depending on where your kids are right now. We started one for each kid when they were babies. Kid 1 is in college now. The 529 will cover her first degree (with scholarships), med school and might have a bit left over. No cap gains to pay. Ours use Vanguard funds.