Berkshire Hathaway’s investing decisions, including those involving the stock portfolio, 网页链接{will fall to Greg Abel}, Buffett’s planned successor, according to the “Oracle of Omaha.”
“I think the responsibility ought to be entirely with Greg,” Buffett said. “The responsibility has been with me, and I farmed out some of it, and I used to think differently about how that would be handled, but I think the responsibility should be that of the CEO.”
“Whatever that CEO decides may be helpful in effectuating that responsibility, that’s up to him or her to decide at the time that they’re running money. ... I would say my thinking has developed to some extent as the sums have grown so large at Berkshire,” he added. “We don’t want to try and have 200 people around that are managing $1 billion each, it just doesn’t work.”
While Buffett has made clear that Abel, vice chairman of non-insurance operations, would be taking over the CEO job, there were still questions about who would control Berkshire’s public stock portfolio.
Buffett has garnered a huge following by racking up huge returns through investments in the likes of Coca-Cola and Apple.
Berkshire investing managers, Todd Combs and Ted Weschler, both former hedge fund managers, have helped Buffett manage a small portion of the stock portfolio for about the last decade.