Subject: Re: Warren & Greg on CNBC tomorrow
I did not find or learn anything earth shattering, but I did really enjoy the interview. I thought Becky did well. Warren looked great for 92yo imo. He seemed 'steady as she goes' and Never seems to be rattled about anything going on in the outside world and the daily noise. It seems like the managers of our businesses are feeling a slow down relative to where they thought they would be six months ago but Insurance and BHE are holding steady.

I thought Greg was professional, direct and honest and seemed very confident in his BRK knowledge and role, now and going forward. I liked how they structured the interview with them both their hour one and then Warren alone the last two hours. Also thought it was funny how Warren said that Greg is tougher and one to hold the managers a bit more accountable with more guidance and tangible goals although still giving them autonomy. However, Greg also seems to be more hands-on with respect to speaking with managers, encouraging dialogue and seeing them in person from time to time. It sounds like Greg also feels the same way about letting Todd and Ted make totally independent investing decisions. No doubt, we are in great hands imo.

WEB loves and trusts Powell but thinks we are printing and distributing too much money & politicians always focusing on power and Re-election, Not what may be best for the citizens and country long term. He seemed very loyal to our BAC and Moynihan and wisely trimmed other financials pre-crisis. Risk management and maintains tons of cash equivalents seem as important as ever. I did like how he felt that poorly managed banks that make bad loans should pay the price of their poor judgement and should not be bailed out as this is a known part of banking. He seems to think it very reasonable to guarantee depositors and has faith in FDIC's current and future role although bank fees for adequate coverage will surely rise. He thought that the poor quality bank CEOs that made poor decisions should be personally penalized severely and financially with their gross mismanagement.

Interesting, Greg said that our 12 largest businesses provide 86% of the revenue. WEB said each day the market is open $100M is coming in the door! Amazing thought! I always feel better being a shareholder partner after watching these interviews or the meetings. Looking forward to Omaha and hopefully a few more Q&A than last year!