Michael Burry, the investor widely known for predicting the 2008 housing crash, has publicly turned bearish on Berkshire Hathaway (BRK-B), stating he no longer finds the company attractive as an investment following Warren Buffett's departure.

Burry shared his assessment on X on Sunday, articulating a concern he says he has held for years.

Burry's Longstanding Fear Realized

Burry had long worried about what would happen when Buffett eventually stepped away. His primary concern was that a successor would lack Buffett's legendary patience — the willingness to wait for what Buffett famously called a "fat pitch." The term, borrowed from baseball legend Ted Williams, describes an investment so clearly attractive in its risk-reward profile that it warrants decisive action.

Burry wrote on X: "My biggest fear for Berkshire Hathaway was that Warren Buffett's eventual successor would lack Buffett's patience and discipline to wait for the right fat pitch. I believe this fear has come true."

He added: "I do not find Berkshire an attractive investment going forward."

The concern strikes at a question that has shadowed Berkshire for decades: whether any executive could replicate a style rooted in decades of experience, a vast network of deal flow, and an extraordinary tolerance for inaction when markets offered little value.

Greg Abel's Early Moves as CEO

Greg Abel officially assumed the CEO role from Buffett at the start of 2026, months after Buffett announced his plan to step down at the May 2025 annual shareholder meeting. Abel, who previously oversaw all of Berkshire's non-insurance businesses as vice chairman and was formally designated successor in 2021, now two full quarters into the position faces intense scrutiny over how he manages Berkshire's enormous cash reserve.

Abel has begun deploying capital. In Q2 2026, Berkshire repurchased $4.5 billion of its own stock — a sharp increase from the $234.2 million spent in Q1, which had been the company's first buyback since May 2024.

Burry acknowledged that the cash pile remains substantial. However, he characterized Abel's actions so far as "more framing moves than investment moves," suggesting he views the activity as repositioning rather than evidence of genuine conviction. Investors and analysts are watching closely for whether Abel will pursue a major acquisition — something Buffett himself had been unable or unwilling to do at scale in recent years despite the growing cash pile.

Cash Reserves Largely Intact

Despite the increased spending, Berkshire ended Q2 with $365.5 billion in cash, cash equivalents, and short-term securities — roughly a 2% decline from the level at the end of 2025, when Buffett handed over leadership. That figure reflects a years-long trend: Buffett had been steadily accumulating cash, a posture many interpreted as a signal that he saw limited opportunities at attractive valuations.

Berkshire did report strong quarterly results. Earnings more than doubled in Q2, driven by investment gains and solid performance across its industrial and retail businesses.

Stock Underperforms Broader Market

The stock, however, has lagged. Berkshire's Class B shares have gained just 3.8% year-to-date in 2026, compared with a 13.3% rise in the S&P 500 over the same period. On Monday, Class B shares traded at $534.47, up approximately 2.43% on the day.

Burry's post generated significant engagement, drawing over 1,500 replies on X. The critique is notable given Berkshire's longstanding reputation as a steady, reliable holding rather than a speculative bet, and as a common anchor position for long-term individual investors.

The central question Burry raises is whether Berkshire still merits the premium it has historically commanded, now that the man who built that reputation is no longer at the helm.