Famed hedge fund manager and "The Big Short" film inspiration Michael Burry has voiced concerns about the future of Berkshire Hathaway, focusing on the ability of Warren Buffett's successor to maintain the discipline required for waiting for the "perfect pitch." He now admits these fears have materialized and no longer views the conglomerate favorably.

Burry posted on X, stating that his biggest worry about Berkshire Hathaway is that the successor lacks Buffett's patience and self-control to wait for "fat pitch" opportunities. He believes this concern has now come true, and he will no longer consider Berkshire Hathaway an attractive investment target. The "fat pitch" concept, borrowed from baseball legend Ted Williams and adopted by Buffett, refers to a clear, low-risk, and high-reward investment opportunity.

Under Greg Abel's leadership, Berkshire Hathaway began its first major use of cash, restarting both buybacks and net stock purchases. In the second quarter, which was Abel's second full quarter as CEO, the company started deploying its massive cash reserves, purchasing its own shares and buying more stocks than it sold for the first time in over three years. The company spent about $4.5 billion on share repurchases during the quarter, a sharp increase from approximately $234.2 million in the first quarter, which was its first buyback since May 2024. By the end of June, the Omaha-based giant held roughly $365.5 billion in cash, cash equivalents, and short-term securities, a decline of about 2% from the level when Buffett handed over control at the end of 2025.

Despite a doubling of profits, Berkshire Hathaway's stock performance lagged the broader market, raising concerns. The company's quarterly profit more than doubled year-over-year, driven by strong investment income and robust industrial and retail operations. However, its stock price underperformed, with BRK.B shares gaining only 3.8% year-to-date by mid-year, compared to the S&P 500's 13.3% rise. This divergence is intensifying market scrutiny on whether Greg Abel can navigate Berkshire Hathaway's vast capital base with Buffett-like prudence and patience to continue the legendary investment philosophy.