Monday, 27 June 2016
Last updated 8 min ago
Mar 5 2013 | 10:13am ET
Seabreeze Partners’ Douglas Kass doesn’t think much of Berkshire Hathaway these days, and he’ll get a chance to explain why at the company’s annual meeting.
Berkshire chief Warren Buffett invited Kass to serve as one of three of his interrogators at the meeting on May 4. He’ll serve as the meeting’s “bear,” telling The Wall Street Journal that he has been betting against Berkshire over the past week.
Kass told the Journal that he was “stunned” by the invitation, but also “flattered and honored.” But Kass did seek out the opportunity, using his connections at CNBC to get a letter from himself and T2 Partners’ Whitney Tilson to Buffett.
Kass will serve on the second-ever panel to toss questions to Buffett and Berkshire’s number two, Charlie Munger, at the annual meeting. The others are analysts focused on Berkshire’s insurance and other businesses.
While Berkshire’s annual meeting is often attended by legions of Buffett fans, Kass said he won’t hold back. “I’m not shy,” he told the Journal.
For Buffett’s part, he told investors on Friday that he hoped to “spice things up” by adding a Bear. “The only requirement is that you be an investment professional and negative on Berkshire.”