Stock Chart Icon<\/title>Stock chart icon<\/desc><\/path><\/path><\/path><\/path><\/path><\/g><\/svg><\/p>\n
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Berkshire Hathaway<\/p>\n<\/div>\n
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It’s also consistent with a significant slowdown in Berkshire’s share buyback activity as of late. Omaha-based Berkshire repurchased\u00a0just $345 million<\/a> worth of its own stock in the second quarter, significantly lower than the\u00a0$2 billion\u00a0repurchased in each of the prior two quarters.<\/p>\n
“I think at best it is a sign that the stock is not cheap,” said Bill Stone, CIO at Glenview Trust Company and a Berkshire shareholder. “At over 1.6 times book value, it is probably around Buffett’s conservative estimate of intrinsic value. I don’t expect many, if any, stock repurchases from Berkshire around these levels.”<\/p>\n
The India-born Jain has played a crucial role in Berkshire’s unmatched success. He facilitated a push into the reinsurance industry and more recently led a turnaround in Geico, Berkshire’s crown jewel auto insurance business. In 2018, Jain was named\u00a0vice chairman of insurance operations and appointed to Berkshire’s board of directors.<\/p>\n
“Ajit has created tens of billions of value for Berkshire shareholders,” Buffett wrote in his annual letter in 2017. “If there were ever to be another Ajit and you could swap me for him, don’t hesitate. Make the trade!”<\/p>\n
Before it was officially announced that Greg Abel, Berkshire’s vice chairman of non-insurance operations, will evenetually succeed the 94-year-old Buffett, there were rumors about Jain one day leading the conglomerate. Buffett recently clarified that Jain “never wanted to run Berkshire” and there wasn’t any competition between the two.<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"
Ajit Jain at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021. Gerard Miller | CNBC Ajit Jain, Warren’s Buffett’s insurance chief and top executive, sold more than half of his stake in Berkshire Hathaway, a new regulatory filing showed. The 73-year-old vice chairman of insurance operations dumped 200 shares of Berkshire Class…<\/p>\n","protected":false},"author":1,"featured_media":89809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-89808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nAjit Jain, Buffett's insurance leader for nearly 40 years, dumps more than half of Berkshire stake -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeworld24.com\/ajit-jain-buffetts-insurance-leader-for-nearly-40-years-dumps-more-than-half-of-berkshire-stake\/\" \/>\n<meta property=\"og:locale\" content=\"tr_TR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ajit Jain, Buffett's insurance leader for nearly 40 years, dumps more than half of Berkshire stake -\" \/>\n<meta property=\"og:description\" content=\"Ajit Jain at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021. Gerard Miller | CNBC Ajit Jain, Warren’s Buffett’s insurance chief and top executive, sold more than half of his stake in Berkshire Hathaway, a new regulatory filing showed. 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