Warren Buffett today announced that Todd Combs, a 39-year old investment manager of Castle Point Capital, has joined Berkshire Hathaway to help manage the company’s investment portfolio.
“For three years, Charlie Munger and I have been looking for someone of Todd’s caliber to handle a significant portion of Berkshire’s investment portfolio. We are delighted that Todd will be joining us.”
Todd Combs owns the following companies in his financially-focused fund; U.S. Bancorp, MasterCard Inc, State Street Corp, The Western Union Company and CME Group Inc. His portfolio is concentrated in financials with more than 70% invested.
I trust in Warren Buffett’s choice, so it will be interesting to see what this young new executive can do.