Subject: Todd Combs in Barrons
Let’s start with the headline:

Combs declined to talk much about his time at Berkshire, which he left in December, or his take on what the future might hold for the company. “I was back and forth from Omaha to D.C. for six years running Geico. That was a long time. I’m very proud—not to go down that rabbit hole—of what we accomplished at Geico. Berkshire is an animal unto itself that’s completely unique.”

But of his current job he said a lot:

Except that Combs is hardly a bolt from the blue, having served on JPMorgan’s board since 2016.

“I know the company well,” Combs tells Barron’s in his first interview as a bank employee. “I know everybody from Jamie to the operating committee and the next layer [of management]. I’m well aware of the balance sheet, the excess capital, and how Jamie and the team think and operate.”
…
Combs has mapped out his new gig, which began in January, on a two-column chart he’s sketched on a notepad. On the left are five rows of industries, such as defense and supply chain/reindustrialization, and on the right are their future manifestations, such as defense tech and U.S. semiconductors, respectively. The plan is to invest in “everything our country has outsourced and abdicated over recent decades,” Combs says. “We want to invest in places where the puck is going so that America can control its own future.”

That means deploying the group’s $10 billion into middle-market and large companies in U.S. defense, aerospace, healthcare, and energy sectors to help them grow. Recent investments include mining company Perpetua Resources PPTA and defense tech start-up Shield AI.

Full article:

He Was Warren Buffett’s Protégé. Now He’s Running Money for Jamie Dimon.
https://www.barrons.com/articl...