Subject: Re: Hopes, for Greg’s first letter?
I think there’s a lot of low hanging fruit with operational efficiencies that will flow directly to the bottom line…and we are principally a collection of operating companies…and Greg is an operations guy. I don’t see how thats not an improvement at this stage in Berkshire’s evolution.

I agree we might gain some efficiencies due to Greg's operational skill, but I don't think that balances out what we lose on the capital allocation front.

I think Berkshire will eventually have to succumb to an Apple-like auto buyback strategy or regular dividend.
I am afraid Greg will constantly have tremendous pressure put on him to "do something" with all that cash, and I would rather have a more aggressive buyback strategy or even a stupid regular dividend in place verses having Greg constantly pressured into making a very large (and possibly disastrous) acquisition.