I completely agree. Read about Buffet’s favorite investment: See’s Candies. They bought a beloved, family-owned brand, cut costs, and jacked up prices. What does that sound like to you? It’s the typical private equity playbook that’s almost universally derided. Buffet and Munger were the original pioneers of PE. Their legacy is not positive.
The current CEO of See's is Pat Egan. Prior to this, Egan was an SVP at NV Energy, another Berkshire company. It's a pretty crazy coincidence that the CEO of See's would be an existing Berkshire employee if Berkshire had no influence in how the company was run.
