INSUBCONTINENT EXCLUSIVE:
By Katherine ChiglinskyWarren Buffett waited until the very last page of his annual shareholder letter to reveal a big change: Shareholders
will be hearing more from top lieutenants Ajit Jain and Greg Abel.
The pair, seen as the top contenders to eventually replace Berkshire
its array of businesses that span from energy companies to the Dairy Queen fast-food chain
operating managers -- be given more exposure at the meeting
But the next CEO will need to figure out how to deploy the cash Berkshire rakes in every quarter, a responsibility Buffett finds
premium volume having climbed 379% since the purchase
Abel, meanwhile, built the energy empire that now has footholds in states including Nevada, Oregon and California, and operations in the
Berkshire shares, as president of Henry H
Last year, Berkshire shares notched their worst underperformance versus the S-P 500 in a decade, and the stock is lagging behind the index
approach to the broader stock market in the fourth quarter, being a net seller of equities such as Wells Fargo - Co
and Goldman Sachs Group Inc
Still, the company ramped up its appetite for its own stock, spending a record $2.2 billion buying back Berkshire shares
Buffett even asked investors to contact Berkshire if they went to sell their stock.
The letter was also notable for what it lacked: He
steered clear of political commentary, a marked shift from his letter that came out in 2016, another election year, when he chided
Edward Jones, said in an interview