From the article:

“Summary

Berkshire Hathaway remains a solid, internally diversified company with strong leadership and integrity.

Its core holdings are stable, 'old economy' businesses providing essential products and services across transportation, energy, and insurance.

BRK.B is positioned defensively to weather potential market or economic downturns over the next decade.

Long-term holders face the challenge of managing outsized portfolio positions despite Berkshire's enduring virtues.

A large buyback of shares would provide an incentive for holders with large embedded capital gains to hold on to their shares for now.”

Can’t argue with any of that. I believe large buybacks are inevitable, and (for me) are the preferred way to reduce the cash pile. Easy for the new CEO to implement. Low risk.

Berkshire Hathaway FAQ

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