No. of Recommendations: 4
Sorry Jim, I just saw this request. Mark Miller was part of the 4 person panel & moderator at the Cunningham panel on Corporate Governance so he did not do a ton of talking. I am not sure if they taped it but I liked his style.
Mark has been there >35 years I think. He was Not a chatty Cathy nor had a folksy larger than life personality like WEB. He was more low-profile and seemed more quiet, self-assured and focused and he was not a story teller. Like Greg, he had a thoughtful, logical, operational and direct way of adding perspective. He seemed to align of course with ex-CEO Mark Leonard with keen focus on customers, employees, respecting shareholder owners and minimizing bureaucracy with a decentralized structure much like BRK. He prefer to give his managers plenty of room to manage and make their own capital decisions to a threshold with earned Trust and no micromanaging, a “call me if you need me” type of approach. I think they have bought thousands of cos over the years and business seems good.
I sense Constellation will keep their head down and focus on what they do well and can control. He looked like he has been working his arse off, but I did not sense fear, anxiety or impending doom from AI. I sensed they are quite thoughtful and well-aware where AI can or will be a threat or benefit more than most cos. I have a tiny position and I am down over 30% on paper. I am tempted to add a bit from this brief exposure to Mark and the CS culture, as it parallels BRK in many ways.
Btw, I loved how he pointed out his daughter (20s) in the audience and his pride in her position in a biotech company. You can tell they were very close, were “real” and seemed like good hearted people.
I hope this is of benefit. Keep a look out for “Value Investing and Corporate Governance Program in Omaha” as it could have been recorded.
