Warren Buffett announced that Berkshire Hathaway's future CEO, Greg Abel, will oversee the company's investments, despite Abel's lack of stock-picking experience. Analysts question if Abel has the experience needed for stock picking given its challenges, though he understands the business well. Buffett previously said investment managers Weschler and Combs would handle investments, but now says Abel would "probably" do it. Abel has experience making multibillion-dollar deals during a decade leading Berkshire's utilities, but not stock picking.
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00:00 It's Benzinga and here's what's on the block.
00:02 Warren Buffett announced that Berkshire Hathaway's future CEO Greg Abel will oversee
00:07 the company's investments despite Abel's lack of stock picking experience. Analysts question
00:12 if Abel has the experience needed for stock picking given its challenges though he understands
00:16 business well. Buffett previously said investment managers like Welcher and Combs would handle
00:21 investments but now says Abel would probably do it. Abel has experience making multi-billion
00:26 dollar deals during a decade leading Berkshire's utilities but not stock picking. For all things
00:31 money visit Benzinga.com