Buffett said Combs built a $1.75 billion portfolio last year and Weschler is in the process of doing the same.
Buffett said he spent $67 million last fall buying back Berkshire stock for the first time since taking over the firm in 1965 because he believed it was undervalued. He said he regrets buying out shareholders at prices less than what the stock is worth.
Buffett has authorization to buy back stock anytime it is selling for less than 110 percent of its book value.
Berkshire Hathaway Inc.: www.berkshirehathaway.com
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