Possible Warren Buffett successor Louis A. Simpson to retire
| August 30th, 2010 |
|
Louis A. Simpson of Berkshire Hathaway’s Geico subsidiary has announced that he will be retiring at the end of the year. Simpson has successfully managed Geico’s insurance-linked investment asset pool, which has approximately $4 billion in assets under management, for many years. His investment skill has gained him the respect and admiration of Berkshire Hathaway’s legendary chief Warren Buffett.
For years now, many have assumed that Mr. Simpson could possibly take over Berkshire’s massive investment portfolio following an untimely retirement of Mr. Buffett. According to the Omaha World Herald, Mr. Simpson, who is now 74, was unlikely to be a long-term replacement due to his age.
As reported earlier this month, hedge fund manager Li Lu of Himalaya Capital is likely to be considered as a possible replacement of Mr. Buffett when he indeed decides to retire. The consensus no longer believes that Mr. Buffett will hand over Berkshire’s reigns to just one manager, but will more likely appoint a small team of highly skilled managers to succeed him. |
|
|
For Detailed Investor Profiles on these Investors, click below: |
| Charlie Munger (Top Investor); | Li Lu; | Todd Combs; | Warren E. Buffett | | Himalaya Capital Ventures; | Berkshire Hathaway Finance Corp; | Berkshire Hathaway Life Insurance; | Berkshire Hathaway Reinsurance Group; | Bill & Melinda Gates Foundation; | GEICO; | General Re; | Himalaya Capital; | LL Investment Partners; | MidAmerican Energy Holdings | More Recent Headlines
