Thaindian News

By Meena Kar
Oct 26, (THAINDIAN NEWS) Warren Buffett is now counting upon the potential of a young soul to be the new leader of his revered conglomerate Berkshire Hathaway, Oracle of Omaha and will be appointing 39-year-old Todd Anthony Combs to be one of his successors.

Todd Anthony Combs is the manager of U.S. stock portfolio at Castle Point, which worths around $280 million. He will now be handling a huge fraction of Berkshire’s investment portfolio, which has an equity of $50 billion. Warren Buffett said, that he has owned and looked after his firm for than 40 years now, and he wants to hand his responsibilities to at least three responsible people, after his retirement or death. He was delighted to have discovered Todd Anthony Combs through Charlie Munger, Berkshire’s vice chairman, and identified his potential as Warren Buffett’s successor.

Todd Anthony Combs has been at hedge fund Copper Arch Capital, as the head of financial-services investments. He has also been an analyst with Progressive Corp and Florida’s banking regulator. He found his own company, Castle Point in 2005. It has however been reported that Todd Anthony Combs will not shift to Nebraska for his new post and will handle his office from his current home base Connecticut.

Speculations said in 2009, that Ajit Jain as warren Buffett’s successor. It came up when Warren Buffet confessed that he took certain dumb decisions in 2008, and that he wanted to rely upon the reinsurance head of his company, for further investment and financial planning. however, soon other names also started coming up. Right now, Warren Buffet says that he has a whole list of internal and external investment managers who could manage Berkshire’s $100 billion investment portfolio, under a CEO, and Todd Anthony Combs has been assured as the first recruit.