Larry Ramer
1 min read
Warren Buffett has left Berkshire Hathaway (BRK-B) well-positioned to succeed after he steps down as CEO, multi-billionaire investor Bill Ackman told CNBC recently.
Why Ackman Is Bullish on Berkshire
The firm is poised to continue to do"very well" after Buffett steps down partly because he bought "really great businesses," Ackman said.
Warren Buffett of Berkshire Hathaway
"Maybe even more importantly," however, "is the culture, principles, governance and thoughts" that Buffett installed at the company, Ackman believes.
Berkshire Hathaway (BRK.B) is a principled company and will remain so "going forward," Ackman explained.
Further, Berkshire Hathaway (BRK-B) has $350 billion of cash, and Buffett's successor, Greg Abel, "is..a superb operator and a very good allocator of capital," added Ackman.
Finally, Ackman expects the conglomerate to start paying dividends and buying back its own stock "a bit more aggressively."
Ackman's One Caveat
The multi-billionaire suggested that the company's current management team may not be as talented as Buffett has been when it comes to "buying businesses."
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Disclosure: None. This article is originally published at Insider Monkey.
