Credit: Shutterstock photoWarren Buffett ( Trades , Portfolio ) is slowly winding down his management of Berkshire Hathaway (BRK.A)(BRK.B)'s investment operations. Even though he is still undoubtedly the leading of the group, his two investing lieutenants Todd Combs and Ted Weschler have gained more independence in recent years.
Buffett appointed Todd Combs in 2010 and Ted Weschler in 2011 to begin to take over the critical investment operations of Berkshire. Initially, their mandates were limited to $2 billion each, but Buffett has since expanded the total to $10 billion.
The CEO and chairman of Berkshire Hathaway isn't getting any younger, and in the years ahead, it's likely that Combs and Weschler will take on a more prominent role, both privately and publicly at Berkshire.
So far, interviews given by these two managers have been limited but they have spoken in the past on their investment process. I thought it would be interesting to gather some of this insight from two of Buffett's most trusted employees.
The first interview was with Yahoo Finance, and it gives some insight into the lives of these managers. When asked to describe their days Weschler said:
And Combs replied:
Another interview, this time with just Ted Weschler, published on Business Insider, gives more insight into Weschler's investment process and daily activities (hint: he reads a lot):
Interestingly, the interviewer then asks Weschler for someinvestment advicebased on his years of experience:
Weschler is mirroring Buffett's advice for beginning investors to buy a simple index fund rather than try to beat the market.
And finally, here's a snippet from German financial publication, Manager Magazine, in which Weschler describes why he believes Apple is such a good investment. It's this logic that presumably convinced Buffett to devote a sizable portfolio of Berkshire's portfolio to owning the tech giant.
Disclosure: The author owns no stock mentioned.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
