Did Something Happen In Omaha This Weekend?

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Yes! A 72-year-old man predicted immortality for a company currently run by an 84-year-old man.

Mario Gabelli, founder and CEO of GAMCO Investors Inc., which has a stake in Berkshire, says the company Mr. Buffett spent five decades building “will have staying power” under new leadership because its fundamentals are strong. ”It’s not like a dot-com, it’s not like an antibiotic company, it’s not like a social media company,” he says.

No, it’s an insurance/railroad/underwear/chocolate/condiment company that can be neither stopped nor broken up.

“The market value of Berkshire is going to be so great that, even if all the activists got together, they couldn’t do much about it,” Buffett said Saturday at his annual shareholders meeting in Omaha, Nebraska. He was responding to an investor’s question about how the company’s future leaders would prevent a breakup.

Berkshire ‘Will Have Staying Power’ After Buffett, Says Mario Gabelli [WSJ MoneyBeat blog]
Buffett Says Berkshire Can Resist Breakup Activists Even After He Leaves [Bloomberg]

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