Wednesday, January 5, 2011

Warren Buffett Speaks Candidly to Vanity Fair About Who Might Succeed Him at Berkshire Hathaway

The future of Berkshire Hathaway is the subject of intense speculation throughout the financial world, for millions of investors and at the company itself. “It is all we talk about [at board meetings],” Warren Buffett tells Vanity Fair’s Bethany McLean, who spent 11 hours in Omaha with the octogenarian Berkshire Hathaway C.E.O. to discuss who might lead the company he founded when, as David Sokol, one of his executives, puts it, “the bus hits.” Buffett, who has no plans to retire, tells McLean that he “tap dances to work.” His partner and vice-chairman for more than 40 years, Charlie Munger (who, at 86, is not a contender) also speaks to McLean for a profile that provides an in-depth look at Warren Buffett’s thinking on succession as well as the possible choices. Buffett also talks to Vanity Fair about the evolution of his investment strategy, his trust in the wisdom of American capitalism, his “pragmatic” investment style, and belief in luck.

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