Warren Buffett Just Hired A 39-Year Old To Oversee Berkshire’s Investment Portfolio

warren buffett

Warren Buffett hired 39-year old Todd Combs, a former Connecticut hedge fund manager with $400 AUM (assets under management), to oversee Berkshire Hathaway’s portfolio.

From FOXNews:

“For three years Charlie Munger and I have been looking for someone of Todd’s calibre to handle a significant portion of Berkshire’s investment portfolio,” Buffett said in a statement. “We are delighted that Todd will be joining us.”

Combs previously worked at Castle Point Capital, where he managed just $400 million. Under Buffett, Combs will manage a “significant portion” of the investment portfolio, according to the firm.

What caught his eye? The Wall Street Journal says Combs’ fund has returned 34% cumulatively since 2005. Click here to see what he’s holding in Castle Point’s portfolio >

Here’s a taste of what Castle Point Capital Management invests in, according to its latest SEC disclosure:

  • 1.2 million shares in Western Union
  • U.S. Bancorp
  • Blackrock
  • CIT Group
  • JP Morgan Chase
  • Progressive Corp
  • Wells Fargo – like Buffett.