2020: Is Ajit Jain still in the picture?

Becky Quick: (03:14:49)
I want to ask this question that came in because I think some people may have had a misinterpretation about something you said a few minutes ago. This is the benefit of being able to get these questions real time, but a few moments ago you were talking about the people at the company who will be allocating capital after you and Charlie are no longer doing it and you mentioned that you’ve got Todd, Ted and Greg all doing that, but I’ve gotten a few questions that read similar to this. This one’s from [Edward Popula 03:15:14] in New York city who says, “Dear Warren, I noticed you didn’t mention Ajit Jain, when you reeled off your list of future management, is he out of the picture?

Warren Buffett: (03:15:22)
Well, Ajit is not in the capital allocation business. He is the best… Well, he’s got one of the best minds in the world. I mean, I wrote his father after he worked for us for a few years. I wrote him again the other day. But 20 years ago I wrote him and I said, “If you’ve got another son like this, send him over from India because, well on the world.” No Ajit is one of a kind. Anybody will tell you, that’s at any contact with him, and particularly anybody in the insurance business where they know him well, he is absolutely one of a kind. But his job is not capital allocation. It’s evaluating insurance risks and that is a rare… He possesses a rare talent and he has a huge capital backing to do it. So he’s an incredible asset.

Warren Buffett: (03:16:14)
But Greg and Todd and Ted have been in the asset allocation business in a big way for a long time. That’s their game. And the Ajit’s game is insurance. So that’s why I mentioned those three. And incidentally, while Charlie and I are around, we kind of like capital allocation ourselves. So we’re not going any place voluntarily, but we probably will go someplace involuntarily. Before that long.

Warren Buffett: (03:16:43)
Charlie’s in good health incidentally. I’m in good health.