January 7, 2012

Ted Weschler who?

Warren Buffett who is currently about 80 years old has been searching the world for his successor. His current co-worker, Charlie Munger, is about the same age as Buffett himself, so he needs someone younger to look after Berkshire Hathaway. The plan seems to be to hire 3 possible successors. One of the lucky ones is Ted Weschler.

But who is Ted Weschler? He founded his own investment firm Peninsula Capital Advisors in 2000. Not many people are recognizing him, which is strange since the investment firm has returned 1,236 percent since 2000. The investment style is similar to the one Warren Buffett is using and consists of:
  • Long-term investments in publicly-traded companies possessing both strong prospects and outstanding management teams
  • A concentrated portfolio of between 9 and 17 stocks

Apparently, one of the reasons Ted Weschler got the job as one of the possible successor of Warren Buffet, was that Ted Weschler payed $5.2 million to dine with Warren Buffet in 2010 and 2011 as part of a charity event.