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Capital Calls: Vote is writing on Warren Buffett’s wall

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A Berkshire Hathaway shareholder vote on climate and diversity signals conflict ahead for Warren Buffett’s heir apparent, Greg Abel. rob_cyran explains on Capital Calls.

That’s over twice as many as voted for similar proposals in the past. It’s a reflection, perhaps, of shareholder resentment as the total return of Berkshire A-shares has lagged the S&P 500 Index over the past decade. It may also point to a generational divide between the nonagenarians Buffett and right-hand man Charlie Munger and Berkshire investors.

For the moment, Buffett enjoys sufficient fealty from shareholders to beat back such resolutions. His successor, whom Buffett has identified as Greg Abel , will be just another CEO hired by the owners. To keep them happy, Abel will need to get up to speed on climate change and diversity stat.

 

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