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Larry Ramer

New CEO Greg Abel Just Bought $15 Million of Berkshire Hathaway Stock. Should You?

Berkshire Greg Abel Berkshire Hathaway New Whitney Tilson United States Warren Buffett Geico Insurance

Berkshire Hathaway's (BRK.A) (BRK.B) new CEO, Greg Abel, recently disclosed that he would use all the after-tax proceeds from his salary to buy his own company's stock while he leads the firm, and he got the ball rolling with an initial purchase of $15.3 million of BRK.A. Abel will certainly have a great deal of incentive to attempt to boost the share price. However, given his unproven investment record, a questionable decision coming out of the gate by the new CEO, Berkshire's unimpressive fourth-quarter financial results, an assessment of Berkshire by a veteran, prominent investor, and a key long-term threat to Berkshire, I don't recommend that investors buy the shares at this point. 

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