Jim Cramer on Berkshire: "You Have to Expect More Profit Taking as Buffett Leaves"

Berkshire Hathaway Inc. (NYSE:BRK-B) is one of the stocks Jim Cramer had in this week’s game plan. Cramer called it a “terrific company” and commented:

“Let’s see what the first week of November has in store for us. Now, we don’t have to wait until Monday for some important news. We get Berkshire Hathaway’s earnings tomorrow morning, and apparently, there will no longer be any commentary from the greatest investor of all time, Warren Buffett, who’s retiring as CEO. The 95-year-old Buffett has agreed to turn the company over to a fabulous exec, Greg Abel, who will take the reins… [at] year’s end.

The stock’s been getting clobbered, though. I presume that’s because of the changeover. Now, look, you gotta understand, I think Berkshire’s a terrific company, and you have to expect more profit taking as Buffett leaves. But what can I say? He is irreplaceable, but the company’s a great one.”

Berkshire Hathaway Inc. (NYSE:BRK-B) operates a diverse range of businesses, including insurance, utilities, railroads, manufacturing, retail, and consumer products. Moreover, it invests in energy, aerospace, construction materials, and many other industries. The company reported its Q3 earnings on November 1 and posted operating earnings of $13.49 billion, up 33.6% year-over-year. Berkshire Hathaway Inc. (NYSE:BRK-B) generated revenues of nearly $95 billion, and its net earnings per average equivalent Class A share were $21,413, and $14.28 for Class B.

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Disclosure: None. This article is originally published at Insider Monkey.