Tut tut @scoonie, I take it you will not be fire walking with Brett, or beating the drums in the wilderness or walking one moon in the great man’s moccasins? Not attending the Kumbaya chanting session? I hear you. Every decade seems to anoint some Guru, until the sane world wakes up to the fact that they are really just human. It all started with the mysticism of Omaha which all the lemmings feel they must visit as a pilgrim. Reality is, there ain’t much there. It’s as dead as Dumpville, North Dakota.

Another reality is that we all have our own investment plans and our own styles…just like there are different lanes at a bowling alley. I’m in the ‘dividend stream from small/micro companies which represent value for money’’ alley. I’m not getting strike after strike, but I’m comfortable. It’s not busy, I don’t have to wear those weird shoes, there’s no rowdy ‘whoo-ha’s’ or high fives. I like good companies with good management who are already up and running except no one has noticed them yet.

your friend, Warren ( I drink Coke, insure with GEICO and eat See’s candy)

If I could slot in a laughing emoji, I’d be doing it here.

Nice summary @Scoonie

One of the other huge risks after you get past his ego/self belief, is there is no succession plan now or being developed. I put this to Brett a couple of years ago in a Q & A and his response was all the partners are the succession plan.

Umm, they might be able to keep running their individual offices but without Brett continuing to roll it all up, you now have a very expensive accounting business that has hit a brick wall for roll up growth...

I asked Brett the same question years ago @Karmast and he said much the same.

Effectively there is a succession plan in place - the partners would all vote for a replacement from amongst their ranks.

That's democracy in action - not unlike what we've seen recently in the US...

What could possibly go wrong?

I don't follow this one but there is one interesting thing about it. i listen to a lot of US/Intl investing podcasts, i mean A LOT. Rarely do Australian stocks ever get a mention, maybe the big miners every now and then, maybe RMD or CSL again rarely. except for one stock, KPG, gets more mentions than any other OZ stock. the question is why? IDK but i conclude it is because it is heavily marketed over there on the BRK connection, which is unusual, not necessarily bad.

He is very good at stock promotion and social media lets him reach a larger audience than would've been possible 15 years ago. Potentially there's also some interest because of the move to a NASDAQ listing. Nothing like feeding the ducks in preparation.

Strong overseas interest in Aussie small caps on social media is usually a pretty good red flag. You can reach your own conclusions on what sort of flag it is when those investors are calling an accounting rollup the next Berkshire.

If you're interested, here is a recent Reddit on what being brought into the KPG fold is actually like.

https://www.reddit.com/r/AustralianAccounting/comments/1gpeckk/kellypartners_firm_acquisition/

I used to own KPG a few years ago, but I sold on valuation grounds. Unlikely the market will present an opportunity to re-enter with all that promotion surrounding it.

He definitely knows how to promote and what to say to finance people.

Agree @Mujo , although as a general rule when you see Buffett or Berkshire in the marketing material you can assume it is meant for a retail crowd.

Agree, finance people i meant retail investors who who have read the usual investing books. Poor wording.