Imagine the problems for Berkshire Hathaway if those headlines were real.
Warren Buffett is Berkshire Hathaway.
While Buffett has already picked his successor he wont say who it is so there has naturally been much speculation.
A handful of possibilities have been suggested, with CEOs of Berkshire companies some on the short list.
The most likely though appears to be Ajit Jain who manages Berkshire's reinsurance business.
Buffett wrote this about Jain in his Berkshire Hathaway letter out last month:
“Ajit came to Berkshire in 1986. Very quickly, I realised we had acquired an extraordinary talent. So I did the logical thing: I wrote his parents in New Delhi and asked if they had another one like him at home. Of course, I knew the answer before writing. There isn’t anyone like Ajit.”
So Buffett does pick people around him who are very good at what they do but in reality only two men can pick stocks like him-the other Charlie Munger 84, is no spring chicken either.
As close as Ajit Jain maybe in investing style, business acumen and frugality there is only one Warren Buffett and the fortunes of his beloved Berkshire Hathaway will change under new leadership.
Lets hope the great man lives as long as his investment style.
Related Links
Berkshire Hathaway Annual Letter to Shareholders 2008 - Read the latest Berkshire Letter
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The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
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