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Munger: Comfortable About Succession, Durability Of Culture At Berkshire -CNBC

Date : 05/04/2012 @ 2:35PM
Source : Dow Jones News
Stock : International Business Machines Corp. (IBM)
Quote : 191.73  -0.42 (-0.22%) @ 6:57AM
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Munger: Comfortable About Succession, Durability Of Culture At Berkshire -CNBC

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Calling Warren Buffett's recent cancer diagnosis a "total nonevent," Berkshire Hathaway (BRKA, BRKB) vice chairman Charlie Munger told CNBC in an interview Friday that he has "never been more comfortable" about succession plans and the durability of the culture at the company.

Munger also said he is "perfectly OK" with Buffett's investment in International Business Machines (IBM) even though he didn't know about the investment right away.

"It's a very Buffett-style play," Munger said. "It's simple. They announced what they were going to do and why they thought it was going to work. You could see how entrenched IBM was in many places."

Website: www.cnbc.com

-Dow Jones Newswires; 212-416-2900



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