Warren Buffett’s deputies are trailing both the legendary investor and the S&P 500 index, according to a Financial Times analysis that examined the performance of the two men set to take over Berkshire Hathaway’s $354bn stock portfolio.
Berkshire will hold its annual meeting on Saturday without vice-chair Charlie Munger, whose death in November aged 99 has intensified questions over the future of the business when Buffett, 93, is no longer at the helm.
When he eventually steps down, management of Berkshire’s huge equity portfolio is expected to be transferred to Ted Weschler, who was hired after twice paying millions of dollars at charity auctions for lunch with Buffett in 2010 and 2011, and Todd Combs, who was recruited in 2010 after writing to Munger, asking to meet him.