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Buffett Picking Combs Means Defense Beats Offense at Berkshire

Warren Buffett’s selection of little-known hedge-fund manager Todd Combs to help oversee investments at Berkshire Hathaway Inc. shows how the billionaire values limiting losses when markets decline.

“Buffett wasn’t looking for an exciting star,” said Vidak Radonjic, managing partner at Beryl Consulting Group LLC, which advises clients on investing in hedge funds. “He’s chosen someone with a low profile who has the skills to help preserve capital by managing downside risk. Combs was able to navigate a difficult 2008 when other hedge fund managers didn’t.”