Does Combs lead Berkshire line?
Todd Combs, a Florida native little known outside the closeted world of hedge fund managers, is stepping into the brightest of financial lights as an investment manager for Warren Buffett. It’s a job that will put him in line to take over decision-making for Berkshire Hathaway’s tens of billions in investments when Buffett or his board of directors decide the time is right. Meanwhile, Li Lu, a California fund manager recently reported to be headed for the Berkshire job, decided to stay out of the financial limelight and continue managing money privately for wealthy individuals and institutions. The two decisions reflect the challenges and potential rewards of putting one’s investment prowess up against the record of Buffett, who built the Omaha-based Berkshire into a financial powerhouse over the past 50 years. And the split decision also indicates the differences in pay and public scrutiny between a publicly traded company like Berkshire and the private world of hedge funds. The latte
