He wasn't talking about their management processes, he was talking about their capital structure. And he was right. A lot of the acquired companies have high

He wasn't talking about their management processes, he was talking about their capital structure. And he was right. A lot of the acquired companies have high ROIC, because Berkshire Hathaway at its core is a big insurance company and Buffett's investing is there to increase the book value by investing the float.