The Apprentice – Omaha

If you haven’t heard, Warren Buffett (76) is beginning the process of finding and grooming his replacement. In the Berkshire Hathaway annual letter to shareholders, Buffet states:

“At our October board meeting, we discussed that subject fully,” Buffett said. “And we emerged with a plan, which I will carry out with the help of Charlie and Lou. Under this plan, I intend to hire a younger man or woman with the potential to manage a very large portfolio, who we hope will succeed me as Berkshire’s chief investment officer when the need for someone to do that arises.

“As part of the selection process, we may in fact take on several candidates. Picking the right person(s) will not be an easy task. It’s not hard, of course, to find smart people, among them individuals who have impressive investment records. But there is far more to successful long-term investing than brains and performance that has recently been good.”

Morningstar lists five fund analyst picks that they feel represent Buffet inspired managers (I would look to the hedge fund arena personally). Below are the five funds with their historical track record. Granted the last 7 years have been favorable to the value approach. . .