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Warren Buffett wants son to succeed him.


CassiusKing1
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I always thought that culture and philosophy was always instilled in the employees/management.  Guess keeping the name and bloodline in the mix can't hurt.

 

What if who they put in place behaves like Sokol?  With Buffett Jr. on board, along with Bill Gates, it's likely that the board would be more likely to act in the same manner as Buffett & Munger.  If you have a board over time composed of members who behave in a collegial fashion, and have no history with his father, then it's likely they may overlook such behavior as many would have.  Cheers!

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My immediate reaction after hearing this news was not positive. I can understand why Buffett may feel this is needed. What if Howard Buffett exercises poor judgement in the years after W Buffett is gone?

 

I will admit I do not understand what the purpose of this role is. And H Buffett may be the most qualified person to fill this role.

 

Buffett has been doing MANY things the past year or two to set BRK up after he is gone. Seems to be some urgency (more so than in the past). Interesting.

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My immediate reaction after hearing this news was not positive. I can understand why Buffett may feel this is needed. What if Howard Buffett exercises poor judgement in the years after W Buffett is gone?

 

I will admit I do not understand what the purpose of this role is. And H Buffett may be the most qualified person to fill this role.

 

Buffett has been doing MANY things the past year or two to set BRK up after he is gone. Seems to be some urgency (more so than in the past). Interesting.

 

Yeah, I wasn't happy with the idea when I first heard about it about three years ago.  Now though, it seems as Howard has sort of grown into the idea as far as many shareholders are concerned.  I'm also less concerned with Bill Gates being on the board, and virtually all of Buffett's shares will be controlled by the Gates Foundation, so really Gates is the Chairman. 

 

As a father, your relationship with someone who is not your son, is far more enjoyable and interactive than the relationship you have with your actual son, so how do you compensate for this a bit?  I suspect the non-executive chairman role is specifically for that purpose and to maintain some tangible relationship to the Buffett family.  For all intents and purposes, it will have no effect.  The real Chair is Gates.  Cheers!

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Guest ValueCarl

Well, if there's one thing shareholders can be assured of while having Howie play his board role, it's that, farmer or no farmer, he won't be rolling around in the hay with the likes of Angelina Joline, any time in the future thereby eliminating any company scandals in the executive suite tied to improper relationships.  ;D

 

Whether or not he attempts to violate insider trading rules, is something Berkshire owners will just have to wait and see! 

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"Buffett has been doing MANY things the past year or two to set BRK up after he is gone. Seems to be some urgency (more so than in the past). Interesting. "

 

Buffett mentioned in a recent interview there is about an 80 percent chance that he will be around another 5 years as chairman and CEO of Berkshire:

 

BECKY: Yeah, I did notice. Whitney Tilson came out with a report, I don't know,

maybe it was a month or two ago, and said that he thinks there's an 80 percent

chance that you'll still be the chairman and CEO of Berkshire in five years and a 50

percent chance that you'll still be doing this 10 years from now.

 

BUFFETT: I think he's right about the 80 percent chance. I'll have to go look at the

figures, but I'm in, you know, I'm in very good health, I love what I do and I'll go

gaga someday and they'll yank me out of here.

 

BECKY: But you feel good and you think that that's a reasonable 80 percent chance

that you'll be doing this five years from now?

 

BUFFETT: Yeah, if I'm lucky, sure.

 

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"Buffett has been doing MANY things the past year or two to set BRK up after he is gone. Seems to be some urgency (more so than in the past). Interesting. "

 

Buffett mentioned in a recent interview there is about an 80 percent chance that he will be around another 5 years as chairman and CEO of Berkshire:

 

BECKY: Yeah, I did notice. Whitney Tilson came out with a report, I don't know,

maybe it was a month or two ago, and said that he thinks there's an 80 percent

chance that you'll still be the chairman and CEO of Berkshire in five years and a 50

percent chance that you'll still be doing this 10 years from now.

 

BUFFETT: I think he's right about the 80 percent chance. I'll have to go look at the

figures, but I'm in, you know, I'm in very good health, I love what I do and I'll go

gaga someday and they'll yank me out of here.

 

BECKY: But you feel good and you think that that's a reasonable 80 percent chance

that you'll be doing this five years from now?

 

BUFFETT: Yeah, if I'm lucky, sure.

 

Good perspective.  Thank you.  :)

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Guest ValueCarl

Thinking about Buffett's "lucky" comment is interesting because he acknowledges most "humbly" that no man knows his exact hour for leaving this dimension. No doubt, this man knows the mortality charts like the back of his hand, and surely has applied that to his own family history as well as personal health status to make such a comment regarding five remaining years.

 

Moreover, the older we become, the faster time accelerates from one's experience base or "perspective." One year to a ten year old compared to octogenarians like Buffett or Munger seems like eternity versus a blink of an eye to our elders. "Where did the time go?" is often heard by the older generation among us.     

 

Life is fleeting in the big picture of things, fragile and relatively short for each one of us; therefore, me must appreciate every day that light shines into our eyes assuming we were lucky enough to be born with sight! 

 

For me, a closet fan of Buffett's--can you believe it!--amazing financial accomplishments in one short life span, I hope these next five years of his life brings him the greatest success he has ever dreamed of for making the world a better place because of his gifts to allocate capital as well as guide public policy.

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I thought it was actually a positive view of Howard for any Berkshire shareholder.  He's not afraid to speak his mind, yet very well knows exactly what his father would want for Berkshire.  He'll be non-executive Chairman, and I don't think this should really concern any shareholder.  Cheers!

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"Moreover, the older we become, the faster time accelerates from one's experience base or "perspective." One year to a ten year old compared to octogenarians like Buffett or Munger seems like eternity versus a blink of an eye to our elders. "Where did the time go?" is often heard by the older generation among us."

 

Benjamin Franklin: "The scarcer things are the more they are valued."  :)

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