Hiring the Next Generation at Berkshire Hathaway

Warren and Charlie discuss Berkshire Hathaway selection process for the next manager.

In talking about how to find managers to run the portfolio, Buffett talks about having a small number of people manage around $5 billion each in portfolios that mimic what would fit into a $100 billion portfolio.  The company monitors how these smaller portfolios go, and then after a few years, reevaluates the process.  That would be the path for a future managers of Berkshire Hathaway.

Should I apply?