The Rise and Fall of the Index Fund

The game is not performance, it's assets under management. And index funds produce a tiny, tiny, tiny fee on assets under management because they were pioneered by Vanguard. Greg has been key in the development of Berkshire Hathaway Energy and I think a good capital allocator. Will he be in charge of the main capital allocation decisions, including future share buybacks? Warren: "Greg understands capital allocation as well as I do"