Buffett Author Alice Schroeder Discussing the Berkshire Succession Plan
Alice Schroeder makes the point that Berkshire can't just go on auto-pilot after Buffett departs. The CEO job obviously is not going to be an easy one.
With Munger almost 90 years old and Warren 83, Schroeder thinks the shareholders deserve to know who the successor CEO will be.
Schroeder thinks the Buffett "premium" in the stock price is gone and at 1.2 times book value the stock is actually inexpensive.
The one key point that Schroeder took from the meeting was Buffett's comment about when interest rates start rising it will be the "shot heard round the world." Schroeder thought Buffett was pretty somber about what the fallout from that might be.