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Sunday
Nov282010

Does Billionaire Buffett Have Plans to Retire?

Photo Courtesy - ABC News(WASHINGTON) -- Wall Street did a collective double-take when Warren Buffett hired a little-known investor named Todd Combs in October to take over "a significant portion" of Berkshire Hathaway's investments. Combs, 39, is now considered a leading contender to take over managing much of Buffett's investments when the CEO retires.

"He's good," Buffett told ABC News in an exclusive interview with This Week with Christiane Amanpour. "I mean, people thought, you know, maybe I should reach out for a big name, but I'd rather have a two-year-old Secretariat than a 10-year-old Seabiscuit. So I went with the Secretariat," he said, referring to the Triple Crown-winning horse.

And what about plans for the 80-year-old "Oracle of Omaha" to finally get out of the game -- does he have any plans to retire?

"No," Buffett said. "Not even after I die. I've got a Ouija board. The directors will keep in contact with me."

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