Girding for Post-Buffett Era, Berkshire Adds Fresh Investment Manager
NEW YORK—Warren Buffett plucked a second little-known hedge-fund manager from obscurity to handle a portion of Berkshire Hathaway Inc.’s investment portfolio. The selection of Ted Weschler, managing partner of Charlottesville, Va.-based Peninsula Capital Advisors, is the most recent move to prepare Berkshire for the day when Mr. Buffett, 81 years old, will no longer run the company. Mr. Weschler, 50, will join Todd Combs, selected by Mr. Buffett last year, in handling a fraction of Berkshire’s equity portfolio for the time being. When Mr. Buffett steps aside, the two men, and perhaps a third person, will have responsibility for all … Read more