Hello Brew & Boost listeners!
Today’s episode covers a historic moment in finance. Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has officially retired at the age of 95. After 60 years of leading the company , he is handing over control to his successor, Greg Abel.
Whenever a major leader steps down, the business world starts talking—and they use very specific language to describe the tension and the change. Here are the 5 Key Expressions from today’s dialogue to help you sound like a native speaker when discussing business news.
🎙️ Today’s Dialogue
Maya: Did you see the news? Warren Buffett has officially retired at 95—it really feels like the end of an era.
Alex: I know, right? Greg Abel is taking over as CEO, but honestly, that guy is a tough act to follow.
Maya: Seriously. Abel is calling the shots now, but he doesn’t have that “Oracle” reputation for picking winners like Buffett did.
Alex: And with $358 billion in cash just sitting there, Abel really has his work cut out for him.
Maya: That’s probably why investors were a bit rattled when the news broke—they’re nervous about the change.
Alex: It makes sense; handing over the keys to the kingdom of a trillion-dollar company is risky business.
Maya: At least Buffett is staying on as chair, so we might still get some of his folksy wisdom in the annual letters.
Alex: True, I have a feeling we haven’t heard the last of him just yet.
💡 Expression Spotlight
1. A tough act to follow
- Definition:
- A person or performance that is so excellent it makes the next person’s job very difficult by comparison.
- 너무 훌륭해서 뒤따르는 사람이 감당하기(능가하기) 힘든 대상/전임자.
- In-Depth Explanation: This idiom comes from the world of theater or Vaudeville. Imagine a performer goes on stage and gives the performance of a lifetime, making the audience cheer wildly. The next person who has to go on stage has a very difficult job because the comparison will be harsh. In our story, Greg Abel isn’t just taking a new job; he has to follow the legendary performance of Warren Buffett.
- Examples:
- “Greg Abel is taking over as CEO, but honestly, that guy is a tough act to follow.”
- (그렉 아벨이 CEO직을 이어받지만, 솔직히 버핏은 뒤따르기엔 너무 벅찬 존재야.)
- “The previous director won three awards last year. She’s going to be a tough act to follow.”
- (전임 이사가 작년에 상을 세 개나 받았어. 후임자가 그만큼 해내기는 정말 힘들 거야.)
- “Greg Abel is taking over as CEO, but honestly, that guy is a tough act to follow.”
2. Call the shots
- Definition:
- (English): To be the person in authority who makes the important decisions.
- (Korean): 결정권을 쥐다, 지휘하다, 명령하다.
- In-Depth Explanation: The origin of this phrase is often debated—some say it comes from military marksmanship (announcing where you will shoot), while others say it comes from billiards or pool (where you must say which pocket you are aiming for). Regardless of the sport, it implies total control. If you are “calling the shots,” you are the boss.
- Examples:
- “Abel is calling the shots now, but he doesn’t have that ‘Oracle’ reputation.”
- (이제 아벨이 결정권을 쥐고 있지만, 그에게는 ‘오라클’ 같은 명성이 없어.)
- “I managed the project, but the CEO was the one calling the shots on the budget.”
- (내가 프로젝트를 관리했지만, 예산에 대한 결정권은 CEO가 쥐고 있었어.)
- “Abel is calling the shots now, but he doesn’t have that ‘Oracle’ reputation.”
3. Have one’s work cut out for (someone)
- Definition:
- (English): To be faced with a very difficult and demanding task that is waiting to be done.
- (Korean): 힘든/벅찬 일이 기다리고 있다, 고생길이 훤하다.
- In-Depth Explanation: This expression comes from tailoring. In the old days, if a tailor “cut out” all the pieces of cloth for a suit, the sewing work was all laid out in a pile, ready to be done. It implies the task is staring you in the face and it is going to be hard work. Greg Abel has his work cut out for him because he has to figure out how to invest a massive $358 billion cash pile.
- Examples:
- “With $358 billion in cash just sitting there, Abel really has his work cut out for him.”
- (3,580억 달러나 되는 현금이 그대로 쌓여 있으니, 아벨 앞에는 정말 힘든 과제가 놓여 있어.)
- “We have to finish this report by tomorrow morning. We really have our work cut out for us.”
- (내일 아침까지 이 보고서를 끝내야 해. 우리 정말 고생 좀 하겠는데.)
- “With $358 billion in cash just sitting there, Abel really has his work cut out for him.”
4. Rattled
- Definition:
- (English): To be made nervous, worried, or visibly shaken; to lose one’s composure.
- (Korean): 당황하다, 덜컹거리다(불안해하다), 겁먹다.
- In-Depth Explanation: Think of a baby rattle—it shakes noisily. If a person is “rattled,” their confidence is shaken. In the financial world, markets and investors get “rattled” easily by uncertainty. In this story, investors weren’t just nervous about Buffett leaving; they were also rattled by the departure of another key employee, Todd Combs.
- Examples:
- “That’s probably why investors were a bit rattled when the news broke.”
- (그래서 뉴스가 터졌을 때 투자자들이 조금 불안해했던 거야.)
- “The stock market was rattled by the sudden increase in oil prices.”
- (주식 시장은 갑작스러운 유가 상승으로 인해 요동쳤어.)
- “That’s probably why investors were a bit rattled when the news broke.”
5. Keys to the kingdom
- Definition:
- (English): Total control over or unrestricted access to something extremely valuable or powerful.
- (Korean): 절대적인 지배권, (성공이나 권력으로 가는) 가장 중요한 열쇠/수단.
- In-Depth Explanation: This is a dramatic idiom with biblical and historical roots, referring to supreme authority. In modern business, it isn’t just about a job promotion; it is about inheriting an empire. Handing over control of Berkshire Hathaway—a company worth over $1 trillion —is effectively giving someone the “keys to the kingdom.”
- Examples:
- “Handing over the keys to the kingdom of a trillion-dollar company is risky business.”
- (1조 달러짜리 회사의 전권을 넘겨주는 건 위험한 일이야.)
- “When he was promoted to Admin, they gave him the keys to the kingdom.”
- (그가 관리자로 승진했을 때, 그들은 그에게 모든 접근 권한(왕국의 열쇠)을 주었어.)
- “Handing over the keys to the kingdom of a trillion-dollar company is risky business.”
🧠 Pop Quiz Answer
In the intro, we asked: What kind of company was Berkshire Hathaway before Buffett bought it?
The answer is… A failing textile company! Buffett and his partner Charlie Munger transformed a struggling cloth manufacturer into the massive conglomerate it is today.
Thanks for tuning in! See you in the next episode.
