Salient to Investors:
Luke Sims at Eagle Capital Growth Fund said Warren Buffett is trying to build up his stock pickers Combs and Weschler to show he hired the right money managers to succeed him.
Buffett book author Jeff Matthews said the 2012 performance by Combs and Weschler was extraordinary but wants to see how they do in a down market and over the course of a cycle.
Weschler and Combs earn salaries of $1 million plus 10 percent of the excess performance over the S&P 500 on a three-year rolling basis, with 20 percent of each performance pay based on the other’s results as an incentive to collaborate.
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