No. of Recommendations: 1
After a day of reflection, it's obvious I was expecting too much from Greg's first letter. I do trust him to try to fix the ongoing problems we have with some of the subs, specifically BHE (where he has the most experience), Pilot, PCP, Shaw, Kraft, BNSF, etc. He's an operations guy, so these challenges should not scare him.
My bigger worry is the investment portfolio, and the lack of clarity there. Does he really have the skill and experience to make changes to the existing portfolio? To make big, multi billion dollar moves like WB and CM did? He mentioned in the letter that he would "adjust a holding if we see fundamental changes in long term prospects" (bottom of page 15), so it's definitely possible.
Would large moves like that not require board approval?
