“ I’m in complete agreement with Davis about the importance of Berkshire’s culture. (And I fear that it might prove to be more fragile than the optimists believe.)”

I share your concern. Berkshire’s culture is under relentless assault through ridiculous proxy initiatives even while Buffett and Munger are still around. I can only imagine what it’ll be like once they are gone. The default behavior of boards is to cave in to any initiative sold as “ESG”. Berkshire’s board will need leadership willing to unapologetically engage with those forces and defeat them.

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" men and women who recognize the risk of cultural slippage "

What, no diversity and inclusion of standard-issue speculation, rapid-reward greed frenzy and scammery? An icon, if they can keep it. Agreed the risk is far higher than most wish to believe.

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