Cryptocurrencies will come to a bad end ―Warren Buffett


He said his company, Berkshire Hathaway, does not own any Bitcoin futures, nor is it taking a short position for Bitcoin or other cryptocurrencies.

He described Mr Abel and Mr Jain as having "Berkshire in their blood". The 55-year-old Abel will be vice chair of noninsurance businesses and is now the chief executive of Berkshire Hathaway Energy.

Responding to an analyst report that predicted Buffett could run Berkshire for the next 10 years, the Oracle of Omaha said that sounds a bit long without getting anymore specific. "They are the two key figures at Berkshire".

Other Connecticut subsidiaries include General Reinsurance in Stamford; Duracell in Bethel; Charter Brokerage in Norwalk; H.H. Brown Shoe in Greenwich; and Berkshire Hathaway HomeServices New England Properties in Wallingford. He said jokingly, "I wasn't much to start with".

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The hard-driving Buffett, who has been reluctant to name a successor, said in the past that Berkshire's board knows who would take over if something were to happen to him. He joined the company in 1992.

"We'll never have a position in them", Buffett, chairman and CEO of Berkshire Hathaway, told CNBC's "Squawk Box" Wednesday morning. He joined Berkshire's insurance group in 1986. Over the last decade, Berkshire's Buffett brought in two hedge fund managers, Ted Weschler and Todd Combs, for investing in publicly traded stocks.

Speculation that Abel and Jain were the top candidates grew after Munger singled them out as "world-leading" performers in a 2015 letter to Berkshire shareholders.

Buffett's eldest son, Howard, is expected to become Berkshire's non-executive chairman, to help preserve the company culture.