Lawrence Cunningham has a great list of people who can take over Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B) once Warren Buffett is no longer around. This magic list was actually generated by current Berkshire shareholders.
Cunningham is a George Washington University law professor, and has studied Berkshire Hathaway for years. As part of his upcoming book, Berkshire Beyond Buffett: The Enduring Value of Values, Cunningham conducted an extensive shareholder survey. As part of that survey, each shareholder was asked to nominate three people they thought would make for a worthy Buffett successor.
Cunningham says 10 names were mentioned a large number of times. These include Matt Rose of BNSF, Greg Abel of Berkshire Hathaway Energy, Ajit Jain, head of Berkshire's Reinsurance Group, Lubrizol's James Hambrick, and Frank Ptak at the Marmon Group.
Motley Fool analyst Rex Moore was at the Berkshire Hathaway annual meeting in Omaha and was able to chat with Cunningham. In this video, Cunningham explains talks more about Buffett's potential successors.
We recommend buying Berkshire
Berkshire Hathaway is one of the stalwart holdings in Motley Fool Stock Advisor, a service whose average recommendation has returned 158% since inception. By comparison, equal amounts invested in the S&P 500 would have returned 54%. Right now, you can try the service free for 30 days, giving you full access to every stock pick – including two brand new recommendations from David and Tom Gardner released just last Friday. Click here for more information.