Warren Buffett did have the golden touch. His successors are smart but not as smart as he was/is. They probably cannot continue with his legendary ways.
To continue showing significant results they will need to make larger and larger deals. Eventually one will bomb and negatively impact.
If the market is due for a correction, the large portfolio of marketable securities will drop in value. There is no rule that says an investment needs to come back in value.
Insurance operations have significant risk. No risk pool is bullet proof. Warren Buffett likes to keep large cash reserves around just in case insurance runs into a problem. We should respect his wisdom.
The majority of Warren Buffett’s shares are going to Bill and Melinda Gates Foundation to fund charitable works. You must sell the shares to source cash. While the stock has great value a constant selling program will trigger some very simple supply and demand dynamics.
George Gutowski writes from a caveat emptor perspective.