Subject: Re: Question on Abel’s investment philosophy
I'm not sure a lot can be inferred from no mention of Ted. He seems a low key type. A few years ago in the annual letter, Buffett, in his self-deprecating way made mention of Ted and Todd's investment acumen by confessing in a parenthetical that they had both done better than he in their selections in their about 10 year history (at the time) with Berkshire. He made the parenthetical in a really tiny font, which brought a smile.

Frankly, I think the leadership shuffle may enable Greg, or Ted or Todd (if Todd isn't too busy with Geico), to allocate more capital than they may have been previously permitted. Maybe an order of magnitude more. Maybe they'll buy Disney, or USAA, or who knows what.