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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.