(Bloomberg) -- Here’s a theory from Charles Munger on why his friend Warren Buffett has been so successful building Berkshire Hathaway Inc. into one of the world’s most valuable companies:
“He has a lot of time to think,” Munger told investors in Los Angeles on Feb. 10. “Warren is sitting on top of an empire now, and you look at his schedule sometimes, and there’s a haircut. ‘Tuesday: Haircut Day.”’
Buffett fans have cleared their own schedules this weekend. On Saturday, Berkshire is set to release its annual report online. As in years past, it will include a lengthy letter written by the 85-year-old billionaire about the company, investing and whatever else he’s been thinking about. Here are some themes to watch:
Succession
It’s the big unanswered question at Berkshire: Who will follow Buffett as chief executive officer? Investors and the business press have speculated about the leading candidates for years. But Buffett has avoided divulging any names. While it’s unlikely that’ll change, there’s always a chance for a surprise.
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