Subject: Portfolio Turnover after Buffett
What is the likelihood of a major portfolio overhaul by Buffett's successors Todd & Ted?
In fund industry, there is often a big turnover when a new investment manager takes over.
But BRK is a unique situation, with a legacy to preserve. Plus the capital gains tax hit may be a consideration.
If Todd & Ted feel huge positions like Coke, BAC, CHV, OXY will provide inferior returns, will they have the freedom to liquidate them?