Buffett's Got A Pet Bear
Warren Buffett just surprised everyone. While talking with the anchors on CNBC's Monday morning “Squawk Box” program, Buffett announced that he is bringing a bear along to his annual meeting.
Buffett stated that he is inviting Doug Kass to his May 4th shareholder meeting to be part of the panel of analysts.
In his annual letter to shareholders, Buffett stated that he was looking for a Berkshire Hathaway bear to be on the panel. Kass will fulfill that role. He currently is shorting Berkshire Hathaway B shares.
Everything appears to be incredibly amicable so far. Buffett certainly didn't appear bitter about the short position and Kass is clearly honored:
"I would just say this one thing, that his willingness to take on a bear as a panelist at the annual meeting and to ask what I believe to be tough questions, is really testimony to his uniqueness, his transparency. He differs from almost any other corporate manager that I've ever met or known about, who typically lock bearish analysts and their analysis and opinion in the closet, away from investors, who sometimes get a bit too giddy and bullish."
Wow! I am going to Disneyland,I mean Omaha, Neb to be the "credentialed bear" leading at panel at Berkshire Hathaway's Annual Meeting!!— Douglas Kass (@DougKass) March 4, 2013
We'll see how the other analysts and shareholders address him and his position though. Here is Buffet's announcement:
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