The whole story this week was about Todd Combs. The story seemed strange as Combs was unheard of until Berkshire Hathway announced his appointed as an investment officer, earlier this week. However, what got lost in the story was what happened to Li Lu. The day after the news of Combs was announced; Li Lu announced he would no longer be accepting the same position as Combs.
The Wall Street reported as a side point:
The surprise announcement came after two candidates—including Chinese-American hedge fund manager Li Lu, and another individual Mr. Buffett was interested in—took themselves out of the running for the job, Mr. Buffett said. The emergence of Mr. Li as a contender was the subject of a July page-one article in The Wall Street Journal.
Originally, we had been following Li Lu on this site even before the news was officially confirmed. We speculated for months that Li Lu would indeed be a future chief investment officer at Berkshire Hathaway.
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