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Business Browser Date published: 7/4/2010 By Bill Freehling LI LU is a name many Lu appears to be a strong candidate to someday take over Warren Buffett's position Buffett, 79, is in good health and doesn't plan to retire. So it may be more than a decade before anyone takes his seat as Berkshire's chief investor. He favors giving the position to a relatively young person who can hold the job for many years, so the replacement candidate could change depending on how long Buffett keeps the job. Once Buffett does leave the company he built, the plan is to split his job into two--a CEO in charge of operations and at least one chief investment officer. Most Buffett-watchers believe that David Sokol, who oversees Berkshire's growing energy-related portfolio, will take over as the company's CEO. Buffett has said that the company has three candidates for the investing position, and it's possible that more than one or even all three would be hired. Lu appears to be one of the three candidates, and perhaps the leading one. He is a Chinese-American investor who runs the value-based Himalaya Capital Management. Born in China in 1966, he was one of the student leaders of the 1989 Tiananmen Square protests before leaving for the U.S. in 1990. He enrolled in Columbia University, where within At Columbia, Lu studied the career of Buffett, who attended business school Lu manages Munger's money, and his Himalaya fund is inside the same Pasadena, Calif., building where Wesco Financial Corp. is headquartered. Munger is chairman of Wesco, which is 80 percent owned by Berkshire. Lu wrote the introduction to the Chinese translation of "Poor Charlie's Almanack," a compilation
I did not think Buffett looked up to speed recently when
testified before Congress. In addition to being testy and drawn
out, his defense of the securities rating agencies was weak
and lacked sharp logical arguments.
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