Subject: Re: OT JAB advisors reap billions
JAB is not that dissimilar to 3G Capital (the Brazilian private equity guys - Jorge Paulo Lemann). They did great with some of their earlier investments but have struggled with later ones like Kraft Heinz that Berkshire still owns. BTW 3G sold out of their Kraft Heinz holdings months ago.

The playbook which worked earlier stopped working.

And Berkshire, Warren, and we shareholders didn't get off unscathed.