Berkshire Hathaway Inc (BRK.A)

[Prudent Capitalist]

Very positive news out of BRK this am with the naming of Ajit Jain and Greg Abel as Vice Chairmen, along with Charlie Munger who will remain as a VC, and the Market obviously loves the news. Warren Buffett did an excellent job of explaining everything live from Omaha over the course of an hour on CNBC. Jain will oversee all insurance related operations, and Abel will oversee everything else, but each will gain new exposure and experience with BRK operations and companies with which they have not previously been intimately involved. Buffett did confirm that a new CEO will be named upon his death or exit from the CEO position, and pretty much confirmed the worst kept secret in the business world that it will be one of the 2 new Vice Chairmen. I am still betting it is Greg Abel due to his age and broader experience and focus with the non-insurance operating businesses. Of course, Ted Weschler and Todd Combs continue to take over more and more of the investing functions.