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  1. Wealth
May 5, 2009

ST: The view from Buffett-palooza in Omaha

By Spear's

BILLIONAIRE investment guru Warren Buffett told shareholders yesterday that the world had been hit by a “financial hurricane” as the 78-year-old offered new clues about who will replace him at the helm of his company, Berkshire Hathaway.

From the Sunday Times:

BILLIONAIRE investment guru Warren Buffett told shareholders yesterday that the world had been hit by a “financial hurricane” as the 78-year-old offered new clues about who will replace him at the helm of his company, Berkshire Hathaway.

Speaking at Berkshire’s annual meeting in Omaha after one of the worst years of his career, the legendary investor said his preferred replacements “did not cover themselves in glory” this year but added: “I did not either. I am very tolerant in that respect.”

Buffett faced several questions about succession. He refused to name the people who will become Berkshire’s next chief executive or its next chief investment officer.

However, Buffett said three of Berkshire’s internal managers are candidates to be chief executive. He said the board has a list of four internal and external investment managers who could manage Berkshire’s portfolio.

To read the full story, visit timesonline.co.uk

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