How Investor Doug Kass Is Getting Ready To Go Toe To Toe With Warren Buffett
For now, according to Bloomberg, he's doing some important things to prepare for the face-off.
Buffett selected Kass, who manages the firm Seabreeze Partners Management, after putting out a call to the investment world. He said he was looking for Berkshire bears — at least one contrarian to ask him questions during the yearly pilgrimage of Berkshire shareholders to Nebraska.
From Bloomberg:
“We can’t lose sight that this company, and Mr. Buffett as a person, has been combed over with questions,” said Kass. “It’s not like this is a breeze. I think he expects something of me, and I don’t want to disappoint him...
“I do know Mr. Munger is going to call me a chump for being short his stock,” Kass said. “I’m ready for the put- down. I have thick skin.”
We wouldn't either. Kass told Bloomberg he's spending about 10 hours on every question and reading Alice Schroeder's massive biography on Buffett, The Snowball.Maybe he should be doing more, though. This is like going to see the Wizard of Oz.