Well stated LongTermBRK.

I do think there's one "red line" that Buffett doesn't want crossed. That is his promises to the various business owners he's purchased. In a macro sense, that means don't break up BRK and sell off pieces.

One small example I recall concerns the paint business. Warren promised the sales would remain through independent dealers. When the business head toyed with the idea of selling through large volume chains, Buffett fired him.

I don't think that means that smaller businesses can't be grouped into sub-groups overseen by a manager rather than the CEO. That's already happening to some extent, and I think more will be coming. But if Buffett promised a former business owner a place in the big painting, he would have that place unless the business was failing and couldn't be fixed.