Larry Cunningham, Warren Charlie, Greg discussed on Business Talk with Jim Campbell


Larry cunningham rejoins us now it's our annual show on the berkshire hathaway annual meeting it's our last segment here you know learn you make a great case from other book on enduring values in the buffet and berkshires values will endure long beyond buffets tenure my question is how are we you equally confident vet forty thousand people and the whole ethos of the annual meeting will survive warren and longer excellent question and i think that that's one of the points of of this book is i want to shine the light on the importance of the shareholders to the culture and to its continuity and and to stress that shareholder quality is as important as manager of quality you need both and so warren charlie in the board are going to be very careful in selecting successors they they signalled by elevating greg able and jane to the board chairmanships that those are probably the front runner is most people knew that it's expected those guys are first class talented managers with terrific character warren says they have berkshire blood in their veins and so i think that that part that piece of the puzzle is is is is a strong as you can possibly get it and you're right that what's equally important is that the shareholder body needs to continue to support those guys in the very unusual policies the company so opportunistic acquisition strategy that means a very diversified conglomerate rather than the fashion of focus that is you know the appetite of the institutional investor these days a willingness to skip dividend we brochures not paid a dividend since nineteen sixty seven the cheryl overwhelmingly voted against one in two thousand fourteen that's very unusual in corporate america but it's speaks to the shareholders have the long term view the they appreciate the tax efficiency of berks year they appreciate the value of compounding and so as as long as that that that culture on their side is continued i think the company has a very long runway in front of it the two go hand in hand so he greg the others need sustain the economic returns sherwood irs need to appreciate that and support them and then that will in turn help them generate those economic turns and so the virtuous circle will be sustained do you see that that they will highlight or they'll let these successors get a little stage presence tv the allocators if you will todd weschler.

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