No clue on Warren Buffett’s successor at anniversary

Berkshire Hathaway shareholders on Saturday celebrated Warren Buffett’s 50th anniversary running the conglomerate, as the billionaire expressed optimism the company would thrive over the long haul, even after he is gone.

Buffett and his second-in-command, Charlie Munger, fielded hours of questions from shareholders, analysts, and journalists at Berkshire’s annual meeting.

Berkshire holds more than 80 companies and owns over $115bn of stocks. Its breadth and depth, which includes $63.7bn of cash, has given Berkshire a strong balance sheet that Buffett said will help it thrive should the economy, propped up by low interest rates that many expect to rise soon, heads south.