Famed investor Michael Burry has sharply criticized Berkshire Hathaway Inc.'s (NYSE:BRK) new CEO, Greg Abel, claiming he lacks predecessor Warren Buffett's renowned discipline and "patience for the fat pitch." The rebuke follows Berkshire's recent multi-billion-dollar spending spree, leading Burry to declare the conglomerate is no longer an appealing investment.
The 'Cassandra' Critique Taking to X on Aug. 10, Burry directly responded to news of Berkshire's aggressive capital deployment.
"My biggest fear for Berkshire Hathaway was that when Warren finally stepped down, the successor would be too old and otherwise not Warren, so would not have his patience for the fat pitch," Burry wrote.
Pointing to the recent acquisitions under the new leadership, he bluntly added, "I believe this fear has come true.
I do not find Berkshire an attractive investment going forward." My biggest fear for Berskhire Hathaway was that when Warren finally stepped down, the successor would be too old and otherwise not Warren, so would not have his patience for the fat pitch.I believe this fear has come true.
