Cramer: Too Soft on Warren?
NEW YORK (Real Money) -- Was Doug Kass too soft on Warren Buffett?
I know that one of my favorites, Jason Zweig from the Wall Street Journal, says some wags offered that view.
Frankly, I think that's nonsense. In fact, this was a terrific exchange if you are thinking about buying Berkshire Hathaway
First, Kass did the unthinkable. He actually questioned Buffett's mortality. He actually, without saying it out loud, questioned the notion that Buffett would live forever. No one else has EVER done that.
Think about it. First, Kass made it clear that a lot of the most recent big deals, including the Goldman Sachs
Second, he asked about putting Buffett's son Howard as executive chairman, given that he has never run a company like this or made material investments. Buffett dismissed Kass totally because he said his son knows the culture. I don't know, I would prefer someone else with experience. That makes me less likely to buy the stock than, say, if Sam Palmisano were to be executive chairman or someone like Leon Cooperman, who knows the company cold (he went with Dougie to Omaha). Maybe someone who knows insurance like Jay Fishman or pipelines like Rich Kinder, or perhaps someone from his excellent board, or maybe a former CEO of Wells Fargo
As far as breaking up the company, the notion that the fifth-largest company in the world should be just this pastiche, if not a mosaic, of unrelated companies wouldn't carry water anywhere other than with Berkshire. Nobody would put these pieces together. No one. It would make no sense. It only makes sense because Buffett put them together. No other exec could do this. No one.