Officially? No. I can see why we’d have something like this for armed forces. It seems akin to a draft of sorts, but you get way more experienced people.

I think what you’re worried about - that something bad happens to the economy and Berkshire is suffering because of it - is already something Buffett doesn’t handle. He’s just very hands off with the operating units. Look at how Geico was fixed when it fell behind the other insurers. Buffett put a trusted person in place to handle it.

But from what I can see, Buffett will remain in a role that allows him some of his strengths during a recession: the ability to evaluate public companies trading at a discount during a market crash, an ability to formulate deals like he made for BAC. The difference is these deals will be subject to *formal* approval now instead of just a “what do you think about this?” that may have happened in the past.

Berkshire Hathaway FAQ

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