Berkshire Hathaway is again giving stock pickers Todd Combs
and Ted Weschler more money to invest after they beat the Standard & Poor’s
500 Index and left Warren Buffett “in the dust,” the billionaire chairman told Bloomberg.
The deputies, who made profitable bets on Visa Inc. (V) and
DaVita HealthCare Partners Inc., each oversee almost $5 billion, Buffett, 82,
wrote in an annual letter to investors March 1. That’s up from the $4 billion
he outlined in July and reflects his confidence that Berkshire found managers
capable of running more than $80 billion of stocks once he and Vice Chairman
Charles Munger, 89, are no longer leading the company.
“We hit the jackpot
with these two,” wrote Buffett, who is also chief executive officer. “Todd and
Ted are young and will be around to manage Berkshire’s massive portfolio long
after Charlie and I have left the scene…..”
Wait...wait...there's more at http://www.bloomberg.com/news/2013-03-04/buffett-deputies-leaving-billionaire-in-the-dust-get-more-funds.html
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