18 Burst results for "Greg Able"
Here’s What Warren Buffett Says About The Coronavirus And His Outlook On Stocks
"May kicked off with one of the biggest events of the investment calendar the Berkshire Hathaway annual meeting. Hey hurrah but instead of forty thousand people flocking to Omaha. Warren Buffett sat at a table in a near Empty Auditorium. Under did either of you watch it at all. It was kind of the surreal experience. Now I saw two seconds of it. I haven't gotten around to it but it is always. It still blows my mind. That forty thousand people go to Omaha just to maybe get a chance to see Warren Buffett. That's crazy and it's crazy that he can sit up there for that long and answer question after question after question now usually also joined by Charlie. Munger this year he was not instead he was joined by Greg able able. Who is the vice chairman in charge of all operate operate instead of Insurance? But it still went on for more than four hours. Wow I more than an hour was a presentation that he gave so I listened to the entire meeting. Impasse episodes I would. I've said that sort of my personal investing philosophy is be a short-term pessimist at a long-term optimist and that sorta seems to me was the message of the whole meeting so on the pessimistic side. They're clearly not doing anything you know. They've still kept most of their one hundred thirty billion in cash. He did not use the downturn as an opportunity to go on a buying spree. He essentially he likened previous downturns to train. That is slowing down. This time. He said we took the economic train off the tracks. And I don't know of any historical parallel in the range of possibilities on the economic side are still extraordinarily wide in other words. They're still sitting pat on what they're going to do. He also said quote. We have not done anything because we don't see anything that attractive to do. Heels actually spent a good deal of time talking about some of the past challenges and failings America's history so for example. He pointed out that. Despite the fact that we have a declaration of independence that claims that all men are created equal. When you look at the three point nine million people living in the original thirteen states and seven thousand nine hundred fifteen percent were slaves pointed out that during the civil war six percent of the male population between the ages of eighteen and sixty died. The twenty twenty equivalent of that would be four million deaths according to Warren Buffett and then it took one hundred thirty one years for women to have the right to vote at another sixty one years until a woman was appointed to the Supreme Court so we often talks about the long term success of America. He did spend a good bit of time talking about some of the things that we have not done so well. He spent a particular amount of time on going over the Great Depression I think partially because he was born in the middle of the Great Depression so he pointed out. It's September nine hundred twenty nine. The Dow was at three eighty one. Five hundred didn't exist back then so he just using the Dow and then in a little more than two months it was down forty nine percent to one ninety eight. You Move Ahead to August twenty ninth nineteen thirty. Which is the day before he was born. It was backed up to two forty so and it rebounded twenty percent. People have found that like okay. Stocks went down but there. They've gone back up back then. People were thinking that they were on the verge of the Great Depression. You go ahead less than two years to July thirty two. The Dow is down to forty one so from the peak went from three eighty one to forty one a decline of eighty nine percent and the Dow did not get back to its nineteen twenty nine peak until nineteen fifty four. Wow he did point out that people got dividends at back then. Dividends were higher but still price percentage the market was down for more than twenty years so buffet called the Great Depression a testing period. That caused some people that lose faith in America. I don't know if he was playing out to say like times ahead could be tougher than we think or just pointing out that America has seen worse times but regardless he says that anyone's going to lose faith in America that's a big mistake which brings us to his persistent message of being a long-term optimistic pointed out that despite all these challenges from seventeen eighty nine until today the wealth of the of the United States has grown five thousand percent and that's adjusted for inflation. He also pointed out that since the year he graduated from college in Nineteen Forty nine at the age of nineteen one dollar in the Dow has grown to one hundred dollars. So how do people benefit from what he calls the American miracle? Well as he often does and I think it's always interesting that he does this during the Berkshire hathaway annual meeting because it's an annual meeting of people who own individual stocks. He thinks the vast majority of people should just by an S. and P. Five Hundred Index Fund and. He mentioned that's what he does. That's what he has directed his will when he passes away swimming. He predeceased. His wife. Ninety percent of that wealth will go into an SAP hundred index fund. In fact one question asked about Berkshires underperformance as a stock. It's underperformed this year as well as the last decade a something. I know personally because I've owned Berkshire for more than a decade and he was basically said. I agree that that's an issue. He said that the truth is that I recommended. Sap Five Hundred Index Fund. To most people. And I happen to believe that Berkshire is about a solid is any single investment can be in terms of earning over time. But I would bet my life on whether we beat the sap five hundred over the next ten years so as always with buffet. It comes down to betting on America for the long term. But it's clearly means the long term to be like very long-term it mentioned the timeframe twenty to thirty years a couple of times the only truly positive thing he said about shorter timeframe at least that I can remember was in response to a question about whether Berkshire expect significant significant layoffs among its workforce which at this point. It employs almost four hundred thousand people in response. He said that some businesses will have to make adjustments. See's candies closed down. Nebraska Furniture Mart. Some of their factories may have issues. It's the funniest list of companies. I'm sorry Oh it's like it's very clean seas it's like what. Why Energy facturing? Yeah it's it's everything it's all these companies that you like. Yeah I think I've I think I've heard of Kim or have it at all. It's quite amazing. But well while he expects it some there will be have to be some layoffs. He doesn't expect them to be significant in that five years from now he expects Berkshire we'll be employing considerably more people so that to me says he expects five years from now. Things will fully recover and I think that's a reasonable timeframe. I certainly expected in five years. This time period will feel like somewhat of a distant memory. I certainly hope so But it's certainly possible that over the next year or two things could turn out to be pretty rocky
"greg able" Discussed on Invest Like the Best
"They've got money. Why do they need to work well. It's nice to be able to pal around with warren buffett jump on his plane. I don't think they do it anymore. But fly down to augusta and play golf take him on the phone during your bridge game at the club and all i had to take this call it's from warren buffett and so they've stuck around but these were good managers. When they sold the businesses they stayed on as good managers and the question was have they developed their own benches inside of those those companies and and i'm satisfied with what i've seen in all kinds of the digging that we've done that they really have thought long and hard within each of those myriad operating subs about succession planning ashida as you know now heads the insurance operations rations greg able runs the balance of the operating businesses. There's a question as to a sheets succession. We've heard mr buffet for years. In years. Talk about how important he is to berkshire and there's no doubt he's that important to the national indemnity piece of the business but my understanding is his ability to price businesses is like no other in my presumption would be that they've developed a bench underneath as sheet as you know he spends a lot of time on the phone with mr buff and they talk about deals and warren talks about him being that much more brilliant than anybody's encountered if any happens to zt and there's no bench underneath them does that imply them. Some portion of the business of they've written needs to being run off and that we can't write that type of business some of these odd one policy they've written. I don't know that's a question. That probably should have been asked at the meeting this year. I think deserves an answer at some point in the near future. <hes> i think mr buffet at eighty eight and mr monger at ninety five is brilliant as they both are. I applaud them for bringing greg able and gedin this year to answer some of the questions..
"greg able" Discussed on Bloomberg Radio New York
"I'm Christopher cruise. And I'm Susanna Palmer from Bloomberg world headquarters, the Daily Mail reports the UK Prime Minister Theresa may promise today to bring a vote on her Brexit deal back to parliament by March twelfth that's the latest delay in her attempt to win approval for a plan to ease. Britain's departure from the EU may said there wouldn't be a so called meaningful vote on the deal this week because there are team had further meetings in Brussels to secure the changes lawmakers said they needed to pass it Britain is set to leave the block on March twenty ninth. They met for several hours yesterday, but trade negotiators for the US and China still have not been able to resolve the critical issue regarding the depreciation of China's currency, the you one which puzzles Luciano genetically head of investment strategy at Abu Dhabi commercial Bank. The trade is more important than than fluctuations in the currency for them given that any way they tend to like to have a stable currency such a massive developed nations. They would not do. Anyway, the two sides will meet again this morning under the looming. Threat of new American tariffs set to take effect this week. Well, it's always a hot topic for Berkshire Hathaway who will succeed Warren Buffett is chairman his annual letter yesterday didn't have many clues says Bloomberg finance reporter, Catherine she Glenn scheme. He mentioned again, the the promotion of Jay and Greg able which we got at the beginning of last year. And he did say, you know, they have rare talents where you know, very thankful to have them sort of in these leadership positions buffet is eighty eight years old. The Federal Reserve is again in focus this week with testimony from chairman Jerome Powell beginning on Tuesday. Bloomberg's Deborah mouth has a preview care more about the Fed's rape policy. You turn to more dovish stance amid slower global growth and trade uncertainty. How we'll deliver the central bank's semi annual monetary policy reports a congress on Tuesday and Wednesday in Washington. Global news twenty four hours a day on air and it ticked back on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Susanna Palmer. This is Bloomberg..
"greg able" Discussed on Bloomberg Radio New York
"And I'm Susanna Palmer from Bloomberg world headquarters they met for several hours yesterday. But trade negotiators for the US and China still have not been able to resolve the critical issue regarding the depreciation of China's currency the one which puzzles Luciano genetic head of investment strategy at Abu Dhabi commercial Bank. The trade is more important than than than than fluctuations in the currency for them given that any way they tend to like to have a stable currency. Massive devaluations. They would not do. Anyway, the two sides will meet again this morning under the looming threat of new American tariffs set you take effect this week. Well, it's always a hot topic for Berkshire Hathaway who will succeed Warren Buffett is chairman his annual letter yesterday didn't have many clues says Bloomberg finance reporter, Catherine. She Glenn scheme mentioned again, the the promotion of edgy, Jane. And Greg able which we got at the beginning of last year. And he did say, you know, they have rare talents where you know, very thankful to have them in these leadership positions buffet is eighty eight years old the Federal Reserve is again in focus this week with testimony from chairman Jerome Powell beginning on Tuesday. Bloomberg's Deborah Maui has a preview we'll hear more about the Fed's rape policy. You turn to a more dovish stance amid slower global growth and trade uncertainty. How well deliver the central bank's semi annual monetary policy report to congress on Tuesday and Wednesday in Washington. KKR and black rock are making an oil pipeline that the to have entered into a four billion dollar partnership with Dhabi National oil company. A newly formed entity called ad knock oil pipelines will lease at Knox interest in eighteen pipelines which transport crude and condensate global news twenty four hours a day on air and it ticked up on Twitter. Powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Susanna Palmer. This is Bloomberg. This is Bloomberg business week radio. Hello, I'm Carol Massar with.
"greg able" Discussed on KNX 1070 NEWSRADIO
"You're listening to caves. With Mike Simpson. I'm Charles Feldman for apple iphone fans. Good news. Wall Street Journal says apple is gonna launch not one but three different iphone models and twenty nine where have we heard this before they will replace the so-called ex- our model? That's the model that reportedly has not been doing all that. Well, especially in China, and yes, the new iphones will have even more cameras on the backside. The journal says they will have three cameras I was one channel and I was three camps soon. They're going to have ten campuses. It's gonna pop up lightboxes. I don't know why you need three cameras. But okay. It was like MAC and cheese. Yeah. You do well enough to buy a twenty seven pound bucket of the stuff which translates into roughly one hundred and eighty servings Costco is selling the six Dalian container. It's filled with pouches of the pasta the cheddar cheese sauce. It's costing about ninety dollars. And here's the best. Or maybe worst part the bucket of MAC and cheese. It lasts a full twenty years. I give it ten. Maybe fifteen is that time of the week when we take a moment to thank the people who help us bring you Kagan X in-depth, our producer Jonathan service and new senators, Debbie writes, Greg able and Rick Schrader production coordinators, Matt park and Sergio Alexander, Mike and Charles with you. Thanks for listening to in-depth will be back on Monday, reminder the podcast on the radio dot com app. Go and subscribe to that. If you missed the show, you won't miss it. Because we'll tell you when they post CBS news is coming up next. Getting there.
"greg able" Discussed on EconTalk
"Seems to be getting a little bit warmer we can debate about how much a lukewarm but i i think there's some warming i don't know whether it's catastrophic but i'm worried about a little bit i think because you should always worry about the the downside risk that's could be catastrophic i learned that from now some tala commonsense and and so that's just a beautiful thing that we could recreate that use that same process to get the carbon that's in the her now back into the ground is kind of a cool thing the economics of it of course and by that i mean not the financial part but the big picture economics is this does strike me as a my favorite hayek quote the curious task of economics is to demonstrate to men how little they really know about what they imagine they can design so part of this your articles this really crazy idea that somehow we're going to reengineer the soil to solve this other problem got over here and we don't really understand the whole thing really that well there's we get glimpses of what's going on we run this one study wendy silvers done it looks courage ing this greg able reduction in carbon but we don't know if it's gonna scale we don't know what the other facts are we don't know if i spread compos it really wide range across all kinds of different terrains what could happen about them line is urged people to start thinking about one way to fight global warming and climate change is to change farming rather than say cars.
"greg able" Discussed on KNX 1070 NEWSRADIO
"Fifty three the us military says one american special operation soldier has been killed four other us service members wounded this came in attack in somalia us africa command says us troops with somalian and kenyan forces came under mortar and small arms fire today the statement does not identify the attackers but says a larger force of somalian and kenyan troops was conducting an operation against al shabaab terrorists a burbank congressman closer to adding some names to the vietnam veterans memorial wall in washington dc names that adam schiff says never should have been left off it was a june morning in nineteen sixty nine when seventy four sailors lost their lives when the us has frankie evans was struck by an australian aircraft carrier i think fully expected by the victims families that when the vietnam memorial was erected that their names will be included and they were quite shocked to find out that they were not that they were on the other side of an imaginary line in the water that separated the combat zone from outside the combat zone the destroy your had been in combat just as earlier and was due to be back the next day shift tells kennex he's just recently succeeded in getting language added to a house bill that would add those names he says he's hoping the senate will now follow suit rob archer knx ten seventy newsradio time of the week where we take a moment to thank the people who bring you the news here on knx include our producers greg able retriever and david singer writers kathleen mendoza and elaine perkins and of course our news production coordinators john new neo and sergio alexander a pioneer in the world of animation stepping down in the wake of sexual misconduct allegations got that story coming up at the top of the yellow right now it's six fifty five traffic and weather together every.
"greg able" Discussed on Bloomberg Radio New York
"The online travel giant gave a forecast for second quarter profit that fell short of some analysts estimates california has become the first us state to require solar panels on almost all new homes sending the clearest signal yet that rooftop power is moving beyond a niche market and becoming the norm stocks higher with the snp up twenty five higher by one percent the dow up one hundred eighty two of eight tenths of one percent nasdaq higher by one percent i'm charlie pellett that's a bloomberg business flash bloomberg best would rosso continue it's forty eight minutes past the hour and now it's time for bloomberg opinion i'm tara lachapelle a columnist for bloomberg opinion warren buffett doesn't like sharing the limelight with anyone other than charlie munger last weekend the folksy billionaire and his witty sidekick took to the stage as they do every year at berkshire hathaway stockholder meeting to answer questions from their investor fans but this time it was hard not to be reminded that buffets eighty seven years old and mongers ninety four where we're greg able in g chain as the likely next man in line to run berkshire they should have had a seat at the table it would give shareholders a chance to get to know them better and become more comfortable with the idea of someone else running the show no one can ever fill buffet shoes but he must try to ease the transition the widely watched q and a session would have been a great opportunity hopefully there will be more i'm tara lachapelle for more bloomberg opinion please go to bloomberg dot com slash opinion or opie i n go on the bloomberg terminal thank you tara and let's check in with the bloomberg affiliates to find out what's happening on the nation's.
"greg able" Discussed on Bloomberg Radio New York
"I think it would help it would go a long way toward helping shareholders get comfortable with the idea of someone else running the company eventually if they kind of display united front and share that limelight a little bit which doesn't seem like buffets willing to do right now we'll talk to us about that terror i mean because that's kind of interesting it does seem like that warren buffett and i can understand it a company built you've been so associated with the company you are the face of the company you know that he doesn't seem to want to step back it might go a long way in terms of the global perspective the tally does it bother you that jane or greg able that they weren't up there not at all in a single at buffet does everything in small steps when it comes to his succession and he know he brought you know a few years ago and gradually he gave him more and more money and now runs tens of billions of dollars and i think this year was the transition where she delegated a lot more of the responsibility to jane and greg able but i think the way she does he praises them in any letters and keep raises them every time she talks about them so i think they kind of get this he elevated him so much already that may maybe next year he'll do you know mega next year or the following you put him on stage but he usually does things slowly especially when you and i think they'll be honest i think he enjoys the spotlight so much that it's very difficult to give it up you make a good point like you think god forbid we get through another financial crisis the terms that warren buffett got to help you know in terms of investments in goldman and so on and so forth they were they made for great investment same with kraft heinz and not even in periods of turmoil which tend to be you know great time to do deals but just the simple fact of next year's meeting like like you said you know buffalo to do this in small steps but eighty seven how many more small steps can he make i think at some point he needs to he needs to introduce really introduce these guys.
"greg able" Discussed on Here & Now
"I am one of the greatest wimps of all time and when it was a money manager i love cash because i think it can really sue you if things go wrong so i don't think it's a bad thing to have cash and none of us is an investor like warren buffett who is investing for one hundred years in the future essentially so buffet also spoke about wells fargo which last month agreed to a billion dollar fine for charging people for car insurance that didn't need among other things the fed also find the bank earlier this year over those millions of fake bank accounts that employees had created berkshire owns a nine percent stake in wells fargo in this weekend warren buffett said he standing by the bank yeah i don't get that because he says that this is an embattled management team and and that he sticking with them and he said i see no reason why wells fargo is a company both an from an investor standpoint and a moral standpoint is in any way inferior to the other big banks with which it competes i would think that regulators at the occ and the fed might question that as you mentioned a number of finds have come through federal regulators back in february actually made an unprecedented move slapping the bank with sanctions for widespread consumer abuses and it doesn't appear that the bank is really clean things up that much and just recently we had the department of justice and looking at how wells fargo's board and what they knew about whether the bank made inappropriate recommendations to customers about four one case i think this place is a hot mess and i'm not sure why buffett and munger is sticking with it now buffet is eighty seven and a lot of people wondering who's gonna take over for him afterwards did we get any more detail about that you know i think that everyone's looking for this is like the quintessential question on over the weekend he said that i've been semi retired for decades ha ha ha and i think that is a ha ha ha that's quite overstated he is true sixty percent of the business units now directly report to ajit jane and greg able they've been known as sort of the two contenders to be this.
"greg able" Discussed on BizTalk Radio
"Of the company so opportunistic acquisition strategy that means a very diversified conglomerate rather than the the fashion of focus that is the appetite of the institutional investor these days a willingness to skip dividend berkshire is not paid a dividend since nineteen sixty seven the cheryl overwhelmingly voted against one in two thousand fourteen that's pretty unusual in corporate america but it's based on the these 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 as eat greg the others need to sustain the economic returns shareholders 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 they will highlight or they'll let these successors get a little stage presence the allocators if you will todd weschler and ted koontz or the greg able and as jane on the business side that they'll get some exposure over time that maybe the charlie and ward will step down even before they pass away might be you know they they have them every four or five years somebo somebody joins but so those are that's a very significant elevation and then to name them vice chairman running and overseeing insurance greg over shrink the though.
"greg able" Discussed on Bloomberg Radio New York
"The company investigated a recent anonymous complaint made to the company's 24 four hour hotline we could get a clue this weekend on who will succeed warren buffett the eightysevenyearold billionaire comes out with his annual letter to berkshire hathaway gerald or saturday in january buffet named longterm executives the g jane and greg able as vicechairman that led to speculation that bear the front runners to be berkshire's next c o russia's foreign ministers in serbia for important meetings bloomberg's michel savage is in belgrade russia's foreign minister sergey lavrov the heck is still dayvisit to serbia on wednesday with a meeting with president aleksander hold rich pledging to further develop ties with the bulk of country his false will ditch reiterated that serbia will continue to rely on russia for economic and political support and then it won't join the european union sanctions against russia even as it tries to remain on the path to the eu membership in belgrade meech the bloomberg radio shares of angry birds maker robayo are plummeting to dane lose about half their value at one point finished wti reported fourthquarter earnings that missed estimates rubio also gave 2018 guidance that one analyst called a huge disappointment italy has built of buffer to project its bonds of matter the outcome of next month's election bloomberg's allesandro smith chalai in frankfurt reports easily as adept of two point three trillion euros any finance his reese coming under pressure every time spritz why than this he's a realistic prospect after the march vote which would probably have no clear winner or later when the european central bank eventually begins to raise rates but equally as also extending the maturity response and reduced.
"greg able" Discussed on Bloomberg Radio New York
"A ninety nine at one studios where nancy lyons has world and national headlines fancy thanks lisa president trump is pledging action after students and parents appealed him during now white house listening session yesterday to set politics aside and protect america's school children from the scourge of fun gun violence trump says he will push for tougher background checks raising the minimum age of buyers to 21 and ending the sale of bumps stocks he also offered the suggestion yesterday the teachers and staff should be armed bloomberg's chief washington correspondent kevin to really with more on the moves on school safety the president for the second day in a row will hold eliciting session had that one congress comes back on monday you can expect fully four senator rubio as well as his democratic counterpart senator nelson to introduce legislation this is a very heightened political issue here in washington to say the least senators rubio and nelson both represent florida where the latest school attack took place senator marco rubio took heat last night during a cnn town hall from survivor cameron caskey senator rubio can you tell me right now that you will not accept a single donation from the nra we we are responded by saying he believes in the second amendment and said people buy into his agenda hundreds of people have been killed in a fresh round of violence in syria now russia's foreign minister sergei lavrov says moscow will consider supporting a un security council resolution calling for a ceasefire in syria but he says that ceasefire needs to exclude fighters from islamic state and an alqaedalinked group global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries nancy now with were other job stories i'm michael barr foreigners ousted the head of the region where it makes the most money for inappropriate behaviour north american chief raj near left the automaker after an investigation ford says nair engaged in behavior that inconsistent with the companies code of conduct warren buffett comes out with his annual letter to berkshire hathaway shareholder saturday it may contain more clues about the eightysevenyearold billionaire succession plans january buffet named longtime executive jane and greg able as vicechairman that led to speculation that they're the front runners to be virtures next seat eo syrian hospitals are overwhelmed by casualties from the.
"greg able" Discussed on KOMO
"President doesn't talk to bob more from director general michael hayden speaking with jake tapper for what it's worth i'm cheri preston at the jp morgan healthcare conference in san francisco this week there are more male ceos name michael than female ceos at all on a women leaders however i'm concentrating on that there is trying to get the job dump one of them may may who is working out a vaccine to prevent and treat alzheimer's our mission neuroscience is really to democratize brain health and make it accessible to all she and her team are hoping some sort of immunisation we'll be able to prevent degenerative diseases in the future our goals to reduce the incidence of alzheimer's in the world by half by 2050 united neuroscience is one of several companies at the event described by some as the super bowl of biotech the goal is to lure investors into putting more of their funds into biology drug production and research another ceo attendee guilty and buckle and with abc says says people are in the mood to invest markets are strong in the fda is cut back on regulations so he gets a really good combination for the viropharma area for what it's worth cheri preston abc news your money at twenty and fifty past the hour on komo news editor colo propel insurance money up the from abc news wall street now stocks moved lower on worries about interest rates the dow fell seventeen points the nasdaq dropped ten in the s p closed down three toyota and mazda are building a jointventure auto plant in alabama the facility which will be located near huntsville will employee of two four thousand people and build up to three hundred thousand vehicles a year berkshire hathaway promoting two candidates to eventually replace iaea warren buffett to its board greg able and ajit jane eighty seven year old oracle of omaha is leaving though he and ninety four year old vicechair charlie munger will remain on the board which is expanding from twelve to fourteen members daria albinger abc see news a gaza we alarm our houses and we alarm our cars but when it comes to your personal information.
"greg able" Discussed on KBNP AM 1410
"Dave wilson is very close to ten thousand right dave however thousand yeah keep those numbers gone up absolutely there are lots of people who see this every day i mean somebody like chris aleman over at the cows stirs yvonne malysz then if it's good enough for embassy should be good enough for you 11000 everybody let's get to eleven thousand with this charter that day dave wilson bloomberg stocks editor this is one of our most red stories on the bloomberg today after decades of hinting warren buffett seems to have an heirapparent are no abhu higher follows all things warren buffett here at bloomberg news and he joins us from our seattle bureau i love this story featured in bloomberg business week this week as well noah know they've been very secretive but what do we know about who might possibly takeover for warren buffett now that he's looking to leave anytime soon really what the article argue that it you know if you if you talk to investors in in in some other folks who were who follow berkshire closely or close to the company the name it keeps on coming up uh he's greg able the head of the energy business at birth her they run utilities around north america they also have um some business in the uk but uh really starting to check czech law the boxes buffet while he hasn't named who his successor is the ceo he's he's really laid out the criteria and as people stay the situation the they're they're finding middaywe really checks a lot of the boxes he's the right age fifty five he's run a business that's been highly successful for buffet it's business it's been highly acquisitive and that's something the next ios really gonna need to know how to do how to how to.
"greg able" Discussed on KBNP AM 1410
"Make a deal um and you know he doesn't have b three has the temperament in the personality uh that uh buffet would probably look for in his successor he doesn't operational experience which was even buffet didn't have a great point i mean he he knows how to run a business then in he ran met american right well he's run several utility you can uh he did at various points in his careers has had run a different parts of the berkshire hathaway energy portfolio d the important thing to note there though is the in in the last several years he's really run its business much the way that buffet runs the whole conglomerate they have more than twenty thousand employees across all the energy businesses by the headquarters for bertrank three energy only has about two dozen people and that's really a management philosophy that allows the decision making the daytoday decisionmaking to be to be done at the business level in frees up the guy who's running it in this case able to make more strategic decision to bat semis freight side warren buffett is looking for in a successor yeah i mean i think he's looking for someone who have been very clear about this isn't going to be motivated by ego or a big paycheck so on that score it helps greg able is made a lot of money in his career he also.
"greg able" Discussed on WAFS Biz 1190
"Parent company of encore electric delay livery stay with me ron which is the biggest operator in the state of texas this is we feel like we've seen this movie before this one more investment in the energy that berkshire hathaway's making i think this makes sense encore expands the portfolio of berkshire hathaway's energy ceo greg able who is very often discussed as the potential successor to buffet so we see his fiefdom in creasing earnings from energy already was about nine percent of berkshire's overall earnings this will add love may be bout 400 500 million they're coming out of bankruptcy it's hard to exactly gauge how profitable there be but encore will be around four hundred million dollar profitable company adding to the about two billion dollars of energy earnings have berkshire currently has so make sense of some hurdles here the federal bankruptcy court obviously has to approve this and then there's some regulatory hurdles of florida utility owner next year's bid to buy oncourt earlier this year had been disavowed i'm so they had to go back to the drawing board lord i think berkshire will probably work this out and they'll move forward so you mentioned greg able have this part of this story does seem to be for those were trying to read the tea leaves of who will eventually succeed warren buffett is your berkshire hathaway this seems like a vote of confidence for him i i would agree and he is a a very strong operator very strong ceo and i ding berkshire would be in good coming up a big merger in the shopping world and a few stocks on our radar spirit here this was molly fourmonth visit let it.
"greg able" Discussed on Motley Fool Money
"This is we've feel like we've seen this movie before this one more investment in energy the berkshire hathaway's making i think this makes sense encore expands the portfolio of berkshire hathaway's energy ceo greg able who is very often discussed as the potential successor to buffet so we see his fiefdom increasing earnings from energy already was about nine percent of berkshire's overall earnings this will add love may be a bout 400 five hundred million they're coming out of bankruptcy it's hard to exactly gauge how profitable there be but encore will be around four hundred million dollar profitable company adding to the about two billion dollars of energy earnings that berkshire currently has so make sense some hurdles here the federal bankruptcy court obviously has to approve this and then there's some regulatory hurdles of the florida a utility owner next ras bid to buy encore earlier this year had been disavowed i'm so they had to go back to the drawing board i think berkshire will probably work this out um and they'll move forward so you mentioned greg able yelled this part of this story does seem to be for those were trying to read the tealeaves of who will eventually succeed warren buffett a your berkshire hathaway this seems like a vote of confidence for him i i would agree and he is a very strong operator a very strong ceo and i think berkshire would be in good health coming up a big merger in the shopping world and a few stocks on our radar stay right here this is molly full month your and you're shop and shop as always been on the program it interest in stocks me talk about in the mountain former formal recommendations for against so don't buy or sell stocks be sold in what you hear what comeback motley for money chris hill here in studio with jason moser jeff fischer and run gross shares of the home shopping network up twenty five percent this week.