Abel discusses how he plans to allocate capital after taking over the company

Berkshire Hathaway's Vice Chairman Abel smiled and said, "Our starting point is very high." He also mentioned Berkshire's rock-solid balance sheet. Abel referred to cash reserves as "a tremendous asset," stating that Berkshire would utilize it at the right time. He called it a "strategic asset" that can be used to withstand difficult times and allow the company to "never rely on banks or others" to achieve success. Abel stated that in managing risks and overseeing its operating businesses, the company will adhere to the "exact same" philosophy it has maintained for the past 60 years