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Warren Buffett Names Possible Successor
By Doug Caverly
Staff Writer
Article Date: 2010-10-27
For years and years and years, investors all over the world have followed Warren Buffett's every word and move. Now, someone else may deserve similar attention, as Berkshire Hathaway named Todd Combs a new investment manager this week.
This puts the 39-year-old Combs in a position to be a possible successor to the 80-year-old Buffett. Or even makes him the probable successor, if you feel inclined to listen to whispers and follow hunches.
Buffett himself said in a statement, "For three years Charlie Munger and I have been looking for someone of Todd's caliber to handle a significant portion of Berkshire's investment portfolio. We are delighted that Todd will be joining us."
Anyway, Combs comes to Berkshire after spending five years managing Castle Point Capital, so it's possible to get a feel for his approach to investing. Castle Point Capital's top three holdings by market value are Mastercard (Class A shares), U.S. Bancorp, and State Street Corp.
Not much else in the way of details is available at this time.
Keep an eye out for additional coverage and perhaps an interview or two, though, as there's no way the financial community is going to let this development go unscrutinized.
About the Author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.
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