Greg Abel's First Big Acquisition for Berkshire Hathaway Shows Him Following in Warren Buffett's Footsteps
Greg Abel is making Berkshire his own, but investors can see the heavy influence of Buffett.
Greg Abel's First Big Acquisition for Berkshire Hathaway Shows Him Following in Warren Buffett's Footsteps
Overview
Warren Buffett transformed Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) from a failing textile company into a massive trillion-dollar conglomerate over his 60 years as CEO. At the core of the transformation is an investment philosophy rooted in buying excellent companies at a fair value and holding them for the long run, preferably forever.
In the last few years of his tenure as CEO, Buffett found few great investment opportunities, allowing Berkshire's cash pile to grow to nearly $400 billion. Greg Abel has shown a willingness to start deploying relatively small chunks of that capital in his first few months as CEO, and he recently agreed to a deal that would put about $8.5 billion of Berkshire's cash to work in an acquisition that follows in Buffett's footsteps.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
- 51% of U.S. adults say the American Dream is out of reach for most people right now: CNBC survey
- A massive 16% market swing just rocked South Korea over 24 hours. The retail ‘ants’ holding the wheel are driving dangerously.
- I’m 60, retired with $3 million. My fiancée, 55, has $1 million but plans to work for the next 10 years. Are we compatible?
