Thu, 2 May 2013
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Buffett has the discipline to guide capital back into his firm rather than use it for dividend payouts, but most companies are better off distributing excess cash to shareholders, says Morningstar's Josh Peters.
Although the public is still uncertain who will succeed the Oracle, the split-up of the chairman, CEO , and investment roles likely won't alter Berkshire's overall strategy.
Berkshire will be 'just fine' with either of the top candidates as long as they stick to Buffett's approach to capital allocation and decentralization, says Morningstar's Gregg Warren.
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