Oh, oh. That doesn’t sound good. I can only imagine one reason, and that while I hoped he wanted to continue “tap dancing to work” until the very end.
I wouldn’t worry about that being announced at the annual meeting. Watch the recent Charlie Rose interview and Warren makes it clear that he isn’t going anywhere voluntarily imminently. Something like, Greg is on deck but “isn’t warming up yet.”
My official prediction, for the record:
it will be a mgmt reorganization that has the practical effect of
sutton
who wishes to nominate mungo as vice-consigliere
Greg assuming a little more responsibility e.g. Vice Chairman
You seem to be unaware of the fact that Ajit & Greg are already Vice Chairmen and board members of Berkshire.
Oops. Yep. Forgot.
But the main point of my (prognostication that nobody asked for: should be a word for that in English) is: Charlie steps down, and as a second-order effect of this, I wouldn’t be surprised to see Greg take a half-step up.
Think you are correct on Charlie pulling back. What a run though
Does Charlie really do anything at this point anyway?
" Does Charlie really do anything at this point anyway?"
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Think you are correct on Charlie pulling back. What a run though
Why do you think so? The annual meeting format appears to be: Warren, Charlie, Ajit & Greg for the morning session followed by just Warren & Charlie during the afternoon session. That doesn’t appear like Charlie is “pulling back” to me.
Put me in the camp that the news that WEB thinks is “very important” won’t be about Berkshire at all. I think he’s got bigger issues in mind.
It is possibly the threat of nuclear war arising from the Ukraine invasion. WEB thinks that the biggest threat to our world. Or, hopefully, only the economic impact of the war and the past Fed actions on the economy. And that people should continue to believe in the USA.
I’ll be surprised if it is just about Berkshire.
Does Charlie really do anything at this point anyway?
Charlie has never had a “day job” at Berkshire. As near as I can tell, his primary role has been performing at the annual meeting, and answering the phone if/when Warren calls him.
The Vice Chairman position was created in the early 80s - a big merger/reorg with Blue Chip, Diversified, and all the other overlapping ownership positions. Buffett wound up in sole control of the combined entity, Charlie got a title.
<Warrens recent comment about it being a ‘very important meeting’ makes me wonder if there might be some special topic on Warren/Charlie’s mind.>
Among all the important topics, dividend should be one. I think Buffett would like to see it before leaving the stage.
Among all the important topics, dividend should be one. I think Buffett would like to see it before leaving the stage.
Out of curiosity, what makes you think that? Buffett could have paid a dividend by now if he wanted to. But everything I have ever seen by Buffett on the topic suggests he sees paying dividends as a last resort for deploying capital.
Among all the important topics, dividend should be one. I think Buffett would like to see it before leaving the stage.
I think dividends would be the last thing Buffett would like to see, as would the overwhelming percentage of retail shareholders. Neither Buffett not shareholders like me with a large stake in BRK would like to get a new tax bill every year from Uncle Sam.
he has covered the create your own dividend through periodic selling.
<what makes you think that? Buffett could have paid a dividend by now if he wanted to.>
Buffett has likened his investment career to painting a picture on a canvas. The picture wouldn’t be complete without dividends. He is still healthy, but he won’t wait until too late.
Buffett could have paid a dividend by now if he wanted to. But everything I have ever seen by Buffett on the topic suggests he sees paying dividends as a last resort for deploying capital.
If he had to pay a dividend, let it be like the last one: $0.10/A-share. Annually or even quarterly.
I only said dividend is one of the important topics in his mind. It’s still unlikely.
he sees paying dividends as a last resort for deploying capital.
Ever so slowly we are getting there. Buybacks are in place and dividends is next.
by converting A shares to B shares and dilute ones voting power?
Maybe Able will become COO and/or T/T will be given more cash to manage? The subs would deal with Greg, Warren would still oversee the majority of the investments? Heck, I don’t know but we’ll find out tomorrow!