Ole Warren is having itself a case of the Mondays…

While Warren Buffett is out here holding his retirement tour together with little more than blind optimism and the kind of stubborn momentum only a 95-year-old billionaire can generate, his long-time investment protege Todd Combs just looked at the $1.1 trillion empire… smiled… and left for JPMorgan like Lane Kiffin leaving Ole Miss for LSU… in the middle of a playoff run.

It’s giving: “Fun internship, thanks for the memories, I’m going to go be rich somewhere else.” And boy, Berkshire felt that one.

So what the heck happened? Right as Buffett is prepping to hand the CEO crown to Greg Abel (26 days, but who’s counting), Berkshire dropped a Monday surprise: Todd Combs (investment manager, Geico CEO, and one of the only humans on Earth who can say “I picked stocks for Warren Buffett” without lying) is packing his bags and heading to JPMorgan.

JPMorgan, by the way, didn’t just hire him to give the man a job. They built a $10 billion Strategic Investment Group, pointed at national-security industries, specifically for him.

(Source: Markets Insider)

I can picture it now: Jamie Dimon walking into a room, slamming a briefcase full of unmarked bills on the table, and saying: “Son, you wanna come change the world?” (Mind you this “son” is 58 years old, but you get the point).

Buffett’s response was exactly what you’d expect. Buffett essentially said: “Todd’s leaving for an important job… and JPMorgan, as usual, made a good decision.” Translation: “I’m 95, my vision’s blurry, my legs are tired, and now my best stock picker left. Cool cool cool cool cool.”

This comes right after Buffett told shareholders that Abel will make the final investment calls moving forward… which apparently answered the unspoken question Combs might’ve had: “Will I actually be running this place when Warren leaves?” Answer: Not really, big guy.

Meanwhile at Geico, Nancy Pierce, the COO, will be stepping in as CEO… which is great for her, but also feels a little like: “Congrats! Here’s your new job… also Todd left and the whole corporate structure is shifting… and the CFO is retiring… and Warren’s stepping back. Anyway! Good luck!”

Speaking of CFOs, Berkshire also announced Marc Hamburg (the dude who’s literally been Buffett’s money brain for 40 years) is retiring in 2027. He’s being replaced by Charles Chang from Berkshire Hathaway Energy. Plus, for the first time ever, Berkshire is appointing a general counsel (Michael O’Sullivan, formerly Snap’s top lawyer… and previously a partner at Charlie Munger’s old firm). So yes, add a lawyer to the “Buffett is nearing the exit” starter pack.

(Source: Business Insider)

With all that said, let’s talk about what this means for Berkshire…because this is weird timing.

Berkshire’s stock is already underperforming the S&P this year. Buffett’s longtime CFO announced his retirement. One of Berkshire’s most important lieutenants just left. And the guy who was in the running to run the entire investment portfolio is now deploying billions for JPMorgan instead. It’s like Berkshire is changing its entire starting lineup… while the coach is halfway out the building.

Meanwhile, shareholders are sitting there holding the bag like: “Hey uh… anybody wanna tell us who’s actually calling the shots on the $283 billion stock portfolio now? Anyone? No? Cool.”

Let’s call it what it is… Combs heading to JPMorgan is a huge W for Jamie Dimon, and a “huh, that’s… concerning” moment for Berkshire. It’s one thing for the Buffett era to wind down in theory… it’s another for the talent pipeline to pack up and leave mid-transition. 

The real entertainment starts now: does Berkshire evolve into the Buffett 2.0 dynasty investors dream about, or are we watching the opening scene of a decade-long unraveling? It’s gonna be a fun one to watch.

At the time of publishing this article, Stocks.News holds positions in Snap as mentioned in the article.