Warren Buffett’s top stock-picking deputies have both “slightly” outperformed the S&P 500 Index since they started managing Berkshire Hathaway Inc. funds.
Todd Combs and Ted Weschler, who together oversee about $25 billion, have almost identical performance since they joined, Buffett said Saturday at his firm’s annual meeting in Omaha, Nebraska. Combs was hired by Berkshire in late 2010 and Weschler joined about a year later. While Buffett said their performance roughly amounts to matching the S&P 500, they’ve received some incentive pay that they only get if they beat that benchmark.
