Investing legend Warren Buffett is on CNBC live from Nebraska this morning. The Sage of Omaha is talking with CNBC’s Becky Quick. What about Berkshire’s succession plan? Buffett says it’s “precise” and “wouldn’t take 24 hours to implement.” Succession at Berkshire is a hot topic after the WSJ ran a story calling it a “two-man race.”
The only foreseeable problem is that Buffett’s successor won’t have the same enviable prose style. Buffett published his 50th annual letter to investors on Saturday, revealing that Berkshire Hathaway increased its net worth by $18.3 billion. Here’s a taste of how Buffett explains things: “With the acquisition of Van Tuyl, Berkshire now owns 91⁄2 companies that would be listed on the Fortune 500 were they independent (Heinz is the 1⁄2). That leaves 4901⁄2 fish in the sea. Our lines are out.”
