Buffett says Ajit, Greg will some day be beside them at conference

Warren Buffett and Charlie Munger on Saturday said it is probably a good idea to bring Berkshire managers Ajit Jain and Greg Abel on stage to answer shareholder questions.

Asked why other Berkshire leaders don't answer shareholder questions at the annual meeting, Buffett said "This format won't be around forever."

He said even in the current format "Ajit and Greg can answer shareholders' question."


Soon after Bufftett directed one question on the insurance business to Vice-Chairman Ajit Jain.

Jain, who oversees Berkshire's insurance business, said he avoids many insurance contracts because there is lack of data to "hang our hat on." Explaining how he takes a call on such contracts, Jain said "his ultimate test is to call Warren."

Buffett spoke highly of Jain and said he is an asset no company in the world has and nobody can take that call better than Jain himself.