(Bloomberg) — Warren Buffett's annual reports to Berkshire Hathaway Inc. shareholders have their own Kremlinology. Investors hunt for any hint about who will succeed the 84-year-old chief executive officer, much as students of the Soviet Union sought clues from its opaque bureaucracy.
The billionaire left the world guessing on Saturday by reiterating that the Omaha, Neb.-based company's board has the "right person" for the job without identifying the executive in the document. Vice Chairman Charles Munger, 91, provided more fodder for speculation. In a separate passage, he highlighted two Berkshire managers — Ajit Jain and Greg Abel — as examples of "world-leading" executives who are in some ways better than Buffett.
"Charlie just brought the two guys out to the balcony of the Kremlin and had them wave to the crowd," said Jeff Matthews, an investor and author of books about Berkshire, including one on succession. "He wouldn't have done it if he didn't have a reason."
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