According to the billionaire investor Warren Buffett, Berkshire Hathaway Inc.’s (NYSE:BRK.A) (NYSE:BRK.B) next CEO will be someone who could manage risk and bring his own ideas to make better deals for the company, reports CNBC.
Dan Loeb's Third Point returned 11% in its flagship Offshore Fund and 13.2% in its Ultra Fund for the first quarter. For April, the Offshore Fund was up 1.7%, while the Ultra Fund gained 2.3%. The S&P 500 was up 6.2% for the first quarter, while the MSCI World Index gained 5%. Q1 2021 hedge Read More
“We’re not going to have an arts major in charge of Berkshire.”
Warren Buffet today at the annual meeting told his company’s shareholders that the next CEO of the Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) and his successor will also be given the position of Chief Risk Officer (CRO) in the company, just like him.
When asked about the deals with General Electric Company (NYSE:GE), Goldman Sachs Group, Inc. (NYSE:GS), and Bank of America Corp (NYSE:BAC), Buffett said, deals with these companies create worth quite less in comparison to buying good companies, like Geico.