Buffett looks to succession, signals future growth problem, In his 50 years at the helm of Berkshire Hathaway Inc, Warren Buffett has transformed a failing textile company into a sprawling conglomerate that has vastly outperformed most of the rest of corporate America.
But he now says: Do not expect a repeat of that outperformance in the next 50. In the 84-year-old's annual shareholder letter released on Saturday, Buffett said Berkshire has grown so large - 751,000 times its original net worth per share - that the future pace of gains "will not come close" to those of the past.
"The numbers have become too big," Buffett wrote. "I think Berkshire will outperform the average American company, but our advantage, if any, won't be great."...Read More
But he now says: Do not expect a repeat of that outperformance in the next 50. In the 84-year-old's annual shareholder letter released on Saturday, Buffett said Berkshire has grown so large - 751,000 times its original net worth per share - that the future pace of gains "will not come close" to those of the past.
"The numbers have become too big," Buffett wrote. "I think Berkshire will outperform the average American company, but our advantage, if any, won't be great."...Read More
