I was reading the ATCO post and discussion on 'betting on the jockey' (David Sokol, but also Bing Chen) as well as the post on the post-Buffett BRK leadership and the difference between 'installing' a great investor as compared to operator. I began to wonder which I would rather have: a great operator at the helm or a great investor? And eventually decided that if I were investing in a business I would rather have the operator. Obviously, both ATCO and BRK aren't small-cap companies. I'm interested, though, in who the great small-cap operators are. Does anyone have any thoughts?