Michael Burry criticizes Berkshire’s CEO Greg Abel, saying he lacks Warren Buffett’s “patience for the fat pitch”

Berkshire Hathaway’s leadership transition has drawn fresh public criticism from Michael Burry, the investor widely known for turning bearish bets into major returns and for publicly challenging mainstream expectations during past market stress. In a market report carried by Yahoo Finance on Aug. 11, Burry said Berkshire’s new chief executive officer, Greg Abel, does not have what he attributes to predecessor Warren Buffett: “patience for the fat pitch.”

Burry’s comments were framed as a stark judgment on Berkshire’s ability to wait for unusually attractive risk-reward opportunities rather than act quickly or by default. The “fat pitch” phrase, associated with Buffett’s long-running explanation of why patient investors can take advantage of rare, favorable conditions, is central to Burry’s critique.

In the same report, Burry suggested that his “biggest fear” has “come true.” While the post does not lay out a detailed, point-by-point record of Berkshire’s decisions, the thrust is that Abel’s leadership will not mirror Buffett’s discipline around timing and selection, according to the characterization in the article.

Berkshire Hathaway, for decades, has been built around a culture of waiting. Under Buffett’s tenure, the company became known for selective capital deployment and a preference for opportunities that align with long-term fundamentals, a strategy often described by investors as patient value investing. Burry’s remarks imply that he believes this cultural or strategic patience is at risk in the post-Buffett era.

The new CEO era is not the only thing investors watch at Berkshire. Even without specific claims about any one deal, the company’s reputation means management choices are closely scrutinized for whether they preserve the company’s prior investment style. For Berkshire investors, the question is whether Abel will maintain the same tempo and underwriting standards that Buffett publicly emphasized.

Burry’s comment also highlights a broader tension in markets between “staying in cash” and “being active.” Critics of more cautious approaches argue that timing can be costly if attractive opportunities do not materialize quickly. Supporters argue that pressing forward too early can force investors into mediocre trades, which can compound over time.

What is missing from the cited report is operational detail. The Yahoo Finance item does not, in the information provided here, specify particular Berkshire investments or acquisitions that Burry believes prove his case. It also does not include additional documentation such as quotes from Berkshire executives, explicit references to internal targets, or a timeline linking Burry’s critique to specific actions by Abel.

Investors and market observers are likely to look for clearer evidence over the coming quarters: whether Berkshire’s capital allocation, deal cadence, or underwriting approach materially departs from what Buffett’s followers have come to associate with “fat pitch” patience. Until Berkshire or Burry provides more concrete examples, the critique is best read as a sentiment and philosophy challenge rather than a fully itemized assessment.