Certainly Buffet and Munger take risks, but using a lot of leverage is not among them. They use very little leverage and as long as I have watched they maintain a lot of cash even as they have great businesses and excellent management. Those descriptions do not apply to CVC, SFP and many others. You seeem to think it is fine to take a lot of risk as long as you do it with somebody elses money. Then, if management succeeds it benefits and if it fails somebody else loses. I don't like those odds, so I will continue to be a BRKB shareholder and you can have CVC and SFP.