Locator: 50717BRK.
This is quite amazing. I listened to BRK's CEO Greg Abel's presentation and I thought Geico was a standout subsidiary for BRK this past year.
Did he mention this, or did I simply miss it: despite an incredibly favorable year for his insurance business -- paraphrasing what Abel said -- GEICO reported a 34% drop in earnings! Holy mackerel. And that was after years of GEICO working to turn this company around! And despite operating earnings rising 17.7 percent year-over-year, BRK still missed estimates by a significant amount.
Interesting, in the chatbot response below, it was not mentioned that Abel and Ajit Jain were both skeptical of AI. Ajit Jain said the word "skeptical"; Abel seemed to concur.
Query: why isn't BRK doing better? It earned $10 vs $5 last year.
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