The death of #CharlieMunger, Warren Buffett’s right-hand man at Berkshire Hathaway Inc (NYSE:BRK.B), has brought an outpouring of praise but also a sharper focus on the investment giant’s succession plans. After #WarrenBuffett took over what was a struggling textiles firm in 1965 he started the shift towards becoming an #investment holdings company with the acquisition of insurance company National Indemnity Company and stakes in the Washington Post Company and first moves into the banking sector, with the strategy refined and developed after Munger joined in the late 1970s. Munger, who was widely credited for helping steer the ship into more profitable waters by refocusing on companies which weren’t just cheap but offered longer-term value, does raise questions about succession, and Buffett made an appointment in 1999 of someone who was seen as a potential successor, David Sokol. More at #Proactive #ProactiveInvestors #NYSE #BRKB #BRK #BerkshireHathaway http://ow.ly/5cF810544Ui
