May 3, 2012 – 6:12 PM ET
Daniel Acker/Bloomberg
Warren Buffett, 81, is seeking to reassure investors that the US$200-billion company he built over 42 years as chief executive officer is positioned to thrive after his eventual departure.
- Berkshire Hathaway Inc. shareholders missed out on better returns from the Standard & Poor’s 500 Index by sticking with Chairman Warren Buffett after each of his last three annual meetings.
Berkshire fell 2.4% from the firm’s April 30, 2011, meeting through yesterday, compared with the 2.8% advance in the S&P 500. This year’s gathering, planned for May 5 in Omaha, Nebraska, concludes three years in which Berkshire climbed about 32%, trailing the S&P 500’s gain of around 60%.
Buffett, 81, is seeking to reassure investors that the US$200-billion company he built over 42 years as chief executive officer is positioned to thrive after his eventual departure. Growth slowed in the last 15 years as Buffett, a former hedge fund manager, directed Berkshire’s earnings toward takeovers in industries like machine tools, power production and railroads.
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