Buffett's successor tipped as Chinese hedge fund manager

Chinese hedge fund manager Li Lu may be Warren Buffett's successor at Berkshire Hathaway.

Lu, who has a close relationship with Berkshire vice chairman Charlie Munger, may manage a chunk of Berkshire's portfolio, according to the Wall Street Journal. Buffett remains active as chairman of Berkshire at age 79 and has always been tight-lipped about his replacement. Lu's Group owns about 2.4% of BYD, a maker of mobile phone batteries that has evolved into one of China's largest non-government-owned carmakers. He is believed to have helped set up the deal which saw Berkshire invest in the company in 2008. Over the years, Li appeared in BYD's annual reports as a significan...