Two managers at Berkshire Hathway owned by Warren Buffett posted returns that outdid the Chief executive and Chairman of the holding company in 2013, the Wall Street Journal reported on January 17, citing anonymous sources.
According to the edition, the Berkshire Hathway employees’ returns on investments outpaced both the S&P dividend adjusted results, which gained 32%, and Mr. Buffett’s performance. The amount which left Buffett behind is not disclosed. In 2012, the billionaire said in a note to shareholders that his fund’s workers income from the capital outran the S&P Index’s figure by a double-digit margin.
WSJ unveiled the names of the great investors. It was Todd Combs and Ted Weschler. Buffett called them his successors. As the paper informs, they are able to manage the $7 billion assets in 2014, up from $3 billion in 2012. Berkshire Hathway controls over $100 billion in the US. The company has stakes in 43 companies.
Combs and Weschler buy positions for less than $1 billion that is smaller than regular Buffett’s investments. WSJ marked as an example of the companies the protégés invested in a satellite-TV operator DirectTV and credit-card companies Visa and MasterCard.
Mr. Combs started work at Berkshire in 2011. Earlier, he had run a $400 million hedge fund in Connecticut. He has beaten the S&P 500 three years in a row. Mr. Weschler joined Berkshire in 2012. Before that, he headed a holding company in Charlottesville, Va., and managed $2 billion.
