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Buffett Adds Investment Exec as Part of Succession

Berkshire Hathaway has hired a second hedge fund manager to help run the company's investment portfolio and prepare for what it described as the eventual retirement of 81-year-old billionaire Warren Buffett.

By Associated Press | Updated on September 12, 2011

OMAHA, Neb. (AP) — Berkshire Hathaway has hired a second hedge fund manager to help run the company’s investment portfolio and prepare for what it described as the eventual retirement of 81-year-old billionaire Warren Buffett.

Berkshire said Monday that Ted Weschler will join the Omaha-based company early next year. The 50-year-old has announced to the partners of his hedge fund, Peninsula Capital Advisors, that he will begin winding up the fund so he can join Berkshire.

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