Buffett successors beat the S&P 500 for 2nd straight year
Two investment managers hired by Warren Buffett for Berkshire Hathaway (BRK.A, BRK.B) out-performed the market for the 2nd straight year. Buffett has said he “hit the jackpot” with the hires and that Todd Combs and Tedd Weschler will eventually lead the conglomerate although he has no plans to step down.
At $14 billion or so, the investments picked managed by Combs and Weschler make up a small slice of Berkshire’s massive investment portfolio of more than $100 billion.
The two manager’s positions are small compared to the top four holdings of Berkshire Hathaway of Coca-Cola (KO), American Express (AXP), Wells Fargo (WFC) and International Business Machines (IBM).
Top picks Weschler and Combs over the last 2 years include DirecTV (DTV), MasterCard (MA),, Visa (V), and DaVita Healthcare Partners (DVA).
Read More: Upstart Managers School Sage of Omaha in WSJ