Berkshire Hathaway CEO Greg Abel Is Venturing Into an Area of the Stock Market That Warren Buffett Largely Shied Away From. Here's Why Investors Might Play Along.
Berkshire Hathaway's recent investment in Alphabet seems to run counter to some of Buffett's core investing principles.
Berkshire Hathaway CEO Greg Abel Is Venturing Into an Area of the Stock Market That Warren Buffett Largely Shied Away From. Here's Why Investors Might Play Along.
Overview
Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) CEO Greg Abel has only been in his new gig for a little under six months. But he's already making his mark on the conglomerate.
Abel stepped into the role after Warren Buffett served as CEO for six decades. Buffett is widely considered one of the greatest investors of all time. During his time at the helm, Berkshire's shareholders enjoyed market-crushing returns. In fact, Berkshire's stock likely received a premium simply because Buffett was CEO.
Details
Given all that, filling Buffett's shoes is essentially an impossible task. But Abel must try, and as he begins to chart his own course for the conglomerate, he's venturing more decisively into parts of the stock market that his predecessor typically shied away from.
Source
Originally published at www.fool.com.
