- Image via Wikipedia
Li Lu, thought by many to be Warren Buffett’s successor as investment manager at Berkshire Hathaway has decided to stay at his own hedge fund, Buffett said. In the wake of today’s surprise announcement that Todd Combs would be joining Berkshire as investment manager, New York Times’ Andrew Ross Sorkin spoke to Buffett:
One person no longer expected to be in the mix is Li Lu, a Chinese hedge fund manager who had been mentioned as a likely candidate. Mr. Buffett said Mr. Li, who did not return a telephone call Monday, had decided to stay at his own fund.
Buffett did make clear that there may be additional investment managers, and this is distinct from the CEO position.
Disclosure: The author owns BRKB
Interesting considering that Munger once said it was a ‘foregone conclusion’ that he would be a part of the team. Maybe the recent issues with BYD have something to do with it?
Buffett always fascinates me. He seems to constantly have a new or interesting idea.
Is there anyway I can contact the Inelegant Investor? There’s a few questions I have.