In Berkshire Hathaway’s 50th Anniversary (under Warren Buffett’s management) letter to shareholders, Charlie Munger stated that either Ajit Jain or Greg Abel would make an outstanding CEO to eventually succeed Warren Buffett.
I am quoted in two articles in the Omaha World Herald on this letter:
David Kass, a business professor at the University of Maryland and Berkshire shareholder, said he ignores gains and losses on derivatives and investments, calling them “one-time events” that have nothing to do with the day-to-day performance of the conglomerate’s operating businesses.
“It is important to focus on operating earnings,” Kass said. “It’s what Buffett tells us to do.”
David Kass, a business professor at the University of Maryland and Berkshire shareholder, said Buffett appears to be attempting to motivate BNSF with his multiple mentions of Union Pacific, a former stock holding of Berkshire with a headquarters about two dozen blocks from Buffett’s office.
“He might be attempting to stimulate the competitive juices at BNSF,” Kass said. “But it does raise the question of how much the service problems were weather-related and how much they were a result of bad managerial decisions.”
David I Kass
Clinical Associate Professor, Department of Finance
Ph.D., Harvard University
Robert H. Smith School of Business
4412 Van Munching Hall
University of Maryland
College Park, MD 20742-1815
Phone: 301-405-9683
Email: [email protected] (link sends e-mail)
Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.
ValueWalkPremium is a website and newsletter for smart investors like yourself. We focus on the latest hedge fund industry news much of which is not in the public domain and obtained via our sources.
We also have 10 years of resources on how to use this information to better your investment process.
Sign up for today for only a few dollars a day and get a 3 day no obligation trial. Cancel anytime during trial and you are never charged.
Be the first to comment on "Charlie Munger: Ajit Jain Or Greg Abel Would Make An Outstanding CEO"