Berkshire Hathaway chooses Buffett's successor

The billionaire, in his annual letter to Berkshire Hathaway shareholders, addresses his prediction that the U.S. housing market would be in recovery by now. He also mentions the company has a successor in mind to replace him eventually.Billionaire investor Warren Buffett said Saturday that he was "dead wrong" with a prediction that the U.S.

As usual, Warren Buffett had plenty to say at Berkshire Hathaway Inc.’s annual general meeting in Omaha, Nebraska this weekend as more than 35,000 people descended on the company’s home town. On Saturday, the meeting opened as it always does. This year’s video montage included a duet between Mr. Buffett and singer Jon Bon Jovi as well as a take-off on the TV series Breaking Bad.

Maybe it ultimately proves the wisdom of Buffett’s approach to riches — buying good solid investment vehicles when they’re at prices that represent good value Warren Buffett is once again the world’s third-richest person.

(Reuters) - The U.S. securities regulator has decided not to take action against David Sokol, once considered a possible candidate for the top job at Warren Buffett's Berkshire Hathaway Inc, Sokol's lawyer told Reuters.

American billionaire Warren Buffett has indicated that a successor to head his Berkshire Hathaway firm has already been "agreed on" and could step in as soon as the investment guru retires or dies."There's several people, but there's one person they've all agreed on," Buffett, speaking of his holding company's board of directors, said Monday on the PBS network show "Charlie Rose," according to a transcript.

He’ll be a hard act to follow, that’s for sure.