QuestionerWe've heard over the decades and are familiar with Warren and Charlie's investment thesis and their circle of competence. During the first 10 years after taking over a CEO, Greg will be tasked with allocating more capital during that time than Berkshire has had to allocate in its history. Given this, I'd like to hear from Greg about his views on capital allocation, particularly into new businesses.
Greg AbelSure. So this bar is not too high. No, it's, but very fortunate when you think of Berkshire, again, and we've talked about this where we start from, and I'll clearly touch on the investment, the related investment allocation, but we start from a great place where we've got a great culture within the business. We have values that we, as a management team, and really, as defined by Warren, and, and, and, and, and, and that, those Charlie and everybody associated with the business. We've got great values that really set Berkshire up well for the future. And obviously, as we deploy capital and allocate capital, it's critical to Berkshire as we go forward, and equally it's around managing risk. But when I think of our values, there are a couple that are absolutely critical. One, we'll maintain the reputation of Berkshire and that of our company. And I view that in investing or how we operate things across each of our businesses, that will always be a priority and something that will ensure is in the forefront of our minds. We've got a significant set of cash right now, but it's an enormous asset to have that. And that will continue to be a philosophy. Yes, when we can deploy it, we'll deploy it well, and I'll come to that. But equally, we do recognize it as a strategic asset. And it allows us to weather the difficult times and not be dependent on anybody. So again, that will be an investment philosophy. We will remain Berkshire and we will never be dependent on a bank or some other party for Berkshire to be successful.