Buffett reassures Berkshire investors on succession planning after underperformance

100% prepared

David Brenchley
clock • 3 min read

Warren Buffett assured Berkshire Hathaway investors the firm was “100% prepared” for his and deputy Charlie Munger’s departure at the weekend, as his annual letter noted 2019 was the company’s worst year for underperformance since 2009.

Buffet noted he, 89, and Munger, 96, "long ago entered the urgent zone", adding this was "not exactly great news for us, but Berkshire Hathaway shareholders need not worry". The reasons for this were largely due to its strong portfolio of businesses, but also because of the "skilled and devoted top managers" it employs, "for whom running Berkshire is far more than simply having a high-paying and/or prestigious job". Berkshire Hathaway lags as cash pile continues to grow "Finally, Berkshire's directors - your guardians - are constantly focused on both the welfare of owners and the n...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

'Fundamentally' different advice profession risks reputational damage from football scandal

'Fundamentally' different advice profession risks reputational damage from football scandal

High profile advice incidents like V11 ‘damaging’

Isabel Baxter
clock 09 September 2025 • 3 min read
Angela Rayner resigns after ethics report finds warnings ignored on tax advice

Angela Rayner resigns after ethics report finds warnings ignored on tax advice

Following investigation

Sahar Nazir
clock 05 September 2025 • 2 min read
What will cryptocurrency regulation mean for financial advice?

What will cryptocurrency regulation mean for financial advice?

‘Regulation doesn’t automatically make something a sound investment’

Isabel Baxter
clock 05 September 2025 • 8 min read