NYSE: BRK.B

Warren Buffett Successors Revealed: Meet Ajit Jain and Greg Abel

Warren Buffett successor

Two Warren Buffett successors were named Saturday by the most credible source besides Buffett himself - Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) vice chairman Charles Munger.

In a Feb. 28 letter to shareholders, Munger said two men - Ajit Jain and Greg Abel - would both be worthy replacements of Buffett as new Berkshire Hathaway CEO.

Buffett will turn 85 on Aug. 30, and right-hand man Munger celebrated his 91st birthday on Jan. 1. While no one is certain when the two leaders will exit, when they do, it will surely affect Berkshire stock - and its investors.

Here's a close look at the two men Munger named as probable Warren Buffett successors...

Berkshire Hathaway B Stock "Better than Any Mutual Fund" (BRK.B)

Berkshire Hathaway B

The search for top performers never ends - and that's especially true when the markets are stumbling.

That why Money Morning Chief Investment Strategist Keith Fitz-Gerald likes Berkshire Hathaway B stock (NYSE: BRK.B) right now.

"It's not cheap in dollar terms, but it's cheap in terms of potential," Fitz-Gerald said. He also likes an energy stock that he says is "cheap and ready to buy."

For more on why Fitz-Gerald likes Berkshire B stock, as well as his energy pick, watch this video.

Stock Market Futures Higher After WMT Earnings, BRK-PG Deal

stock market futures

Today (Thursday), stock market futures got a boost from a Wal-Mart earnings beat, and a $4.7 billion deal between Berkshire Hathaway and ProctEr & Gamble.

Here's what else you'll need to know to make today's investing profitable...

How Warren Buffett Led Berkshire Hathaway (NYSE: BRK.A, BRK.B) to Record Profit in 2013

Buffett mug

Buoyed by a recovering U.S. economy, Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) posted a record profit in 2013 and is upbeat about the future.

Run by the iconic Warren Buffett since 1965, Berkshire has grown from a textile manufacturing company to now include 80-plus businesses that run the gamut from insurance to railroads to utilities to ice cream. The Omaha, Neb.-based conglomerate consists of some $117.5 billion of a variety of stocks.

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Berkshire Hathaway Share Buyback: Investor Takeaway

Berkshire Hathaway Inc. (NYSE: BRK.A) (NYSE: BRK.B) just authorized the repurchase of $1.2 billion worth of Class A shares from "the estate of a longtime stockholder." The move surprised investors - and says a lot about what Buffett thinks of BRK's value.

Berkshire Hathaway Holdings Show Buffett Hunting a Big Elephant

Warren Buffett's Berkshire Hathaway holdings have undergone some major changes in the third quarter, according to the company's latest 13F filing.

Not only did Buffett and Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) sell more than $750 million in two American giants, they initiated four new holdings and eliminated three positions entirely. Overall, Berkshire's reported portfolio, which only includes long positions, increased to $75.3 billion for the quarter ended Sept. 30, up from $74.3 billion the previous quarter.

While some think Buffett is taking profits where he can, others think he is building up a stockpile of cash for a major move.

"Buffett may be selling the consumer stocks to provide more funds to his deputies while reserving money for a large acquisition," David Kass, a professor at the University of Maryland's Robert H. Smith School of Business, told Bloomberg News.

"He may be really wanting to keep that aside for his big elephant," said Kass, who is referring to Buffett's quote in a letter to shareholders last year where the 82-year-old investing legend stated, "Our elephant gun has been reloaded, and my trigger finger is itchy."

Only Buffett and Berkshire's new portfolio managers, Todd Combs and Ted Weschler, truly know why they made their latest moves, and so without further speculation, here they are.

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