Bill Miller speaks

As manager of Legg Mason Value Trust, Bill Miller beat the market for 15 years in a row until his run ended last year. He also has probably has the most original mind in the investing business.

On Buffett's successor
Markel's Tom Gayner
On Buffett's successor
Bill Miller: I'm not available, and Warren didn't call me. So I think until at least one of those two things happens, there's zero chance of [my being picked].

But one guy who seems right is Tom Gayner, from Markel [the Richmond-based insurer]. He's in his 40s. He's a very sensible guy. Chris Davis [of Davis Funds] put him on his board and says he's great. Buffett's getting a good look at him on the Washington Post board.

Warren has talked about how there's probably no one that's ever going to be like him, having a synthetic ability over a wide variety of asset classes with the risk/reward insight that he does. And it may be better for Berkshire to have four or five people with specific areas of expertise. Somebody who's great in stocks Somebody else who's great with bonds. And then have a conductor on top of that, the way that David Swensen does [as chief investment officer] at Yale, for example.

In fact, Swensen's an interesting choice. He's clearly not somebody who's in it for the money. He's clearly a guy who's a creative and independent thinker. And I think he'd be a great choice to run Berkshire. He'd be a great loss to Yale.

I think Chris Davis would do it as well. I think he'd be great for it as long as he gives up running his funds. [Contacted by Money Magazine, Davis said he would not consider such an offer.]
Stock prices Poker Betting Buffett's successor
The Nobel Prize winner wants to help you make better financial decisions. (more)
The mutual fund visionary on life, near-death and what investors need to focus on now. (more)
he called the tech-stock crash. Here's what he thinks about real estate. (more)
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.