Billionaire investor Warren Buffett told CNBC that Berkshire Hathaway, investment manager Ted Weschler and Todd Combs, has beaten the S & P 500 with a "little bit" since joining the company.
But Berkshire's manager and CEO point out that they have done better in the market when he has over the same time periods. He said it is a tough time to beat S & P 500.
"Overall, they are a little bit behind S&P, each with almost the same margin," Buffett Becky Quick told "Squawk Box" from Omaha, Nebraska ̵[ads1]1; where Berkshire is located – after Saturday's release of Conglomerate's annual shareholder letter Combs and Weschler now manage about $ 13 billion each, he added. "They've done better than I have."
Combs, a former security leader, came to Berkshire in 2010 after three years of searching for someone to go help the company's massive portfolio of stocks, Weschler, also a former security fund leader, began Berkshire two years later, having paid a total of $ 5.3 million to win the 2011 and 2010 auctions for an annual charity lunch with Buffett.
Buffett covered as a measuring set for inves Many of the issues covered in his letter, including Berkshire $ 112 billion in cash pile and what he wants to do with it, his first stock purchase, the dangers of too much debt, and what he sees as the biggest risk ahead. Berkshire's stock portfolio, including top-level holdings
valued at nearly $ 173 billion at the end of 2018
The interview was conducted at Berkshire-owned Nebraska Furniture Mart.
This is a developing story. Check back for updates.