Justin Baer
speaker
55 appearances
2 recordings
1 series
first heard Mar 2026
last heard 5d ago
Justin Baer’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Sep 2026 with 1.
Appearances
He's done deals, he has done all the things you would expect a CO to have done over the course of his career.
Howie is not that, does not have that experience, but knows probably better than almost anyone.
His father's vision and what he hoped would endure once Warren Buffett himself was no longer there.
It's very clear they're stepping into a very kind of uneasy place for this place that has been known for its stability and its performance over many, many decades.
All of that was directly
linked to the guy who was running it, right?
And then suddenly the guy is not running it.
There are all sorts of questions that come up about how sustainable the business model is, what this business should do, should they spend more money on on deals, um, should they offer investors a dividend?
Should they break it up?
All these things that always swirled around Berkshire, even in Warren's Day, but now that he's stepped down, all that grows louder.
Anytime.
Mm-hmm.
So companies did not love offering pensions.
particularly if you were in a very cyclical business where your earnings may differ widely from year to year, right?
And a down year of having to then set aside part of those profits for your pension plan because the market didn't perform well, that was not a great situation to be in.
So they were very happy to look for any opportunity to sort of offload that responsibility onto their employees.
You know, I think in the case of Fidelity and others, part of the appeal is, oh, this is another platform through which we can sell mutual funds, right?
Which was for them still very much the biggest business and the main thing that they did.
So this guy, Ted Benna, he had been running one of those pension consulting firms at the time, and he was one of those guys that would scour every new law for applications that might benefit his clients.
The industry starts to adapt.
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