Buffett's Successor Likely To Be Chinese Hedge Fund Manager Li Lu (BRK.B)

According to an interview with the Wall Street Journal, Warren Buffett's successor at Berkshire Hathaway BRK is likely to be Chinese hedge fund manager Li Lu. In an interview with the Journal, Buffett's long-time partner Charlie Munger said that 44 year-old hedge fund manager Li Lu was a leading candidate to run a piece of the firm's $100 billion portfolio. Buffett has said in the past that he will likely split his current position into at least two different roles - a CEO of Berkshire, and a chief investment officer. Lu is a leading candidate to head up investment at the holding company. "In my mind, it's a foregone conclusion," Munger told the Wall Street Journal, referring to Li becoming one of Berkshire's top investment officials. Buffett, who turns 80 next month, has said that he has no intentions of stepping down any time soon. Li was a student leader at the Tiananmen Square protests in 1989. He was educated at Columbia University in the U.S. and has degrees in economics, law, and an MBA. He also studied physics at Nanjing University in China. Li's style is similar to Buffett in that he holds a concentrated portfolio of stocks for the long-term. According to the Wall Street Journal, Mr. Li told investors he took a lesson from watching the World Cup, comparing his investment style to soccer. "You may very well work extremely hard and seldom score," he says. "But occasionally—very occasionally—you get one or two great chances and you make decisive strikes that really matter."