Capital allocation - listening live I thought WEB was talking about allocating capital, which for Berkshire includes buying entire firms but also making large stock commitments that are meant to be long term or permanent. Having Abel make the final call on these makes sense to me. I expect that Weschler and Combs will both be involved in the capital allocation decisions, as they seem to be today, and the follow-up question for me would be where the size cutoff is for their portfolios. I assume that they will have larger portfolios that grow, and maybe each takes the lead on the bigger positions to make sure the story hasn't changed - perhaps taking a seat on the board.
Capital allocation - listening live I thought WEB was talking about allocating capital, which for Berkshire includes buying entire firms but also making large stock commitments that are meant to be long term or permanent. Having Abel make the final call on these makes sense to me. I expect that Weschler and Combs will both be involved in the capital allocation decisions, as they seem to be today, and the follow-up question for me would be where the size cutoff is for their portfolios. I assume that they will have larger portfolios that grow, and maybe each takes the lead on the bigger positions to make sure the story hasn't changed - perhaps taking a seat on the board.