No. of Recommendations: 1
"Warren Buffett said Greg Abel should have the final decision on investments at Berkshire Hathaway, making clear that his successor will have authority over not just takeovers but the sprawling conglomerate’s mammoth stock portfolio as well.
I think the responsibility ought to be entirely with Greg,” Buffett said from the stage at the CHI Health Center in downtown Omaha. “I used to think differently about how that would be handled, but I think that the responsibility should be that of the CEO.”
...many had anticipated Berkshire’s $336bn stock portfolio would fall to Buffett’s two investment deputies, Todd Combs and Ted Weschler, and that those two men could play a large role in how the company’s $189bn cash pile is deployed."
Financial Times: Content 2d55b909 c543 400b 80b4 abbdac0432c1Could this change in his preference be driven by Ted and Todd's portfolio performance (which, as estimated by the FT, has lagged the S&P 500 by 4 to 5% annually in the last decade or so)?
