...optimizing the efficiencies and productivity of our controlled non-insurance businesses.

I'm not concerned, per se, but I am watching through this lens:

a) taken in isolation, the italicized quote could describe any post-Welch CEO of a Fortune 500 company (which is to say, almost all of the current generation), with undue emphasis on quarterly results, targets and the like - and I suspect history will not be kind to Jack Welch.

b) Mohnish's comments, along with the concerns I expressed wrt Greg's comments at the last BRK annual meeting (generic corporatespeak) add to my, um, watchfulness. Greg will hopefully be great...I just hope he won't be New Coke (New Welch?)

c) again, as I've commented earlier: while Warren's capital allocation is of course superb/legendary, he's been a less than perfect judge of character in the past. Just for that reason, right out of the gates I'm more comfortable with an acquired business (Flying J) than with any new face at the table.

I'm not doing a durn thing about it but watching, however. My current overallocation to Berkshire will remain unchanged.

--sutton

Berkshire Hathaway FAQ

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