Impossible to dispute that Decker hasn't put any significant money into Berkshire. I've refused to vote for her for many years.

OTOH, why would someone want to be a BRK director except for the opportunity to interact with, and be associated with, Warren and Munger? No pay of consequence. No liability insurance - and BRK could have "f**ked up" with liability exposure that could have exceeded its net worth after the Gen Re acquisition and 911. Very tiny probability - yes. Very high consequences - yes.

It's not a job I would accept. Maybe I don't have enough ego to have the recognition be worthwhile. Buffett has been very free in his teachings. What is he concealing that I might otherwise learn?

Is the interaction with Buffett worth it? Maybe so - people pay millions for a short lunch.

So if Buffett is happy with Decker, I say let him be. And her too.

Berkshire Hathaway FAQ

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