I believe there could possibly be the potential for very significant upside to operating earning under Abel.
Warren bought all our businesses from old men with the promise that they would be left alone to run the businesses as they wish.
Warren also believed in buying businesses so good that an idiot could run them...businesses so good that they made money in spot of themselves.
Fast forward 40 years and most if not all of those old guys are gone.
Warren won't be here forever either.
His promises were kept but I believe they expire when he steps down.
I look for Abel to go through each business Wirth a fine tooth comb wringing out wastes and inefficiencies.
I believe he has been mandated to do this.
See what is happening now at GEICO now that Tony Nicely retired after 30 years.
The railroad is next to be fixed.
I think you could see some of the unimportant retail and services business sold.
I look for a leaner, and for certain, meaner BRK to display latent earnings potential in the years ahead.
Charlie and Warren were not operators, but Abel is.

Berkshire Hathaway FAQ

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