Warren Buffett: Greg Abel understands capital allocation as well as I do

Berkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Buffett responds to a concern on whether Greg Abel, vice chairman for non-insurance operations at Berkshire Hathaway, has the same capital allocation acumen as him. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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[@ironcito1101]

It certainly won't be easy to fill the void left by Warren and Charlie when they're gone.

[@kingfarticusreturns6371]

Trying to find the next Warren or the next Charlie is a futile and silly exercise. There will only ever be one, for the reason that no one can recreate any one of us. Greg seems as good a person as anybody. He comes across as humble but very serious about his responsibilities to stakeholders of Berkshire, and seems more comfortable speaking than Ajit. Ultimately I have to assume the annual meetings will look very different in 10, 15 yrs but I see no reason while the same principles won't be in place.

[@MillennialRescueOrg]

I’m going to try to share music once again - I DO NOT CARE ABOUT $ ONLY THAIT IS DIRECTED RESPONSIBLY

[@Wildboy789789]

Greg still strikes me as someone who simply learned warrens method... where warren seems like the guy who can on the fly make a decision and pull the trigger... im really not sold on greg... i think the board needs to select someone with group concensus, not have warren the holy savior hand pick a guy

[@LesserMoffHootkins]

I don’t understand capital allocation

[@ricardodelacrvz1400]

capital allocation means in easy terms, to move your money around between the assets you already own, I mean selling stocks of one company to put on another because it seems more promising or profitable versus the opportunities outside your portfolio that you can buy. It can also mean to buy more shares of a certain stock that feels overvalued in price because of the poor external economic context while the core and intrinsic value of the company doesn't change. Opportunities are mainly a consequence of human irrationality and over a long period of time they can be taken advantage. its nothing very complex, its a interest based approach to a really long term investment. that's how berkshire was able to get an almost 20% return in all those years versus the 7% or 8% return of the boring sp500. Warren also believes that for smaller portfolios they can get a better curve in comparison to a trillion portfolio like his which limits certain opportunities based on risk and dividend yield of the main stocks. capital allocation is different than especulation or trading because you take in account value and not just price.

[@user-sf7kl9uh7k]

You don't need to, just invest your money in Berkshire and let them sort it out for you.

[@finlay316]

Who’s the other old dude besides Warren?

[@danpotter9708]

charlie munger - vice chair

[@MillennialRescueOrg]

Mr Buffet,
I would welcome some Capital Allocations toward GOD’s kingdom. Tryuly what would be accounted for printing his Gospel.