I don’t view this as “Buffett nostalgia” at all. It’s a serious real time take.

My point is actually the opposite: Buffett spent many years deliberately preparing Greg Abel for this role inside Berkshire’s culture and capital allocation framework long before handing him the keys.

Abel has been deeply involved in Berkshire operations and capital discussions for years while directly overseeing the most successful and valuable subsidiaries in the company.

When it comes to Berkshire—I defer to Warren. Buffett has repeatedly stated Abel is exceptionally strong at valuing and evaluating businesses and their intrinsic worth — and has indicated he believes Abel is better at evaluating businesses than most people on Wall Street. That is the core Berkshire skill set. Buffett has also spent decades emphasizing that stocks are simply pieces of businesses. Abel excels at evaluating businesses—he has demonstrated on the job for years.

That distinction matters because Berkshire’s edge has never been quarterly trading activity. It has been disciplined business evaluation combined with opportunistic deployment during periods when others panic or freeze.

Is it reasonable to question whether anyone can replicate Buffett’s record? Of course. Buffett is unique.

But there’s a difference between acknowledging that reality and assuming Berkshire suddenly loses its capital allocation discipline the day Buffett steps aside.

Especially when the existing portfolio of productive businesses continues compounding internally every single day regardless of whether a massive acquisition occurs this quarter.

Look, I’m not going to say your comments come from a lack of understanding of Berkshire even though I’ve been an owner more than 50% longer than you’re have. I respect your opinions. And yeah, I know Greg’s new on the job and he’s not Warren. I get it.