The Cult of Buffett

About a week ago, I questioned whether or not Apple had a plan to replace the great leader in their cult of personality. It turns out there is another company out there—even more successful than Apple—with a similar situation.

Berkshire Hathaway, the company with the highest individual stock price in the world, is led by the great Warren Buffett. If you are lucky enough to own a share of BH (BRK-A on the NYSE), you are welcomed at the annual shareholders' meeting in Nebraska which is more like a giant carnival than a financial conference. People converge in Omaha from all across the globe, just to have the chance to meet the guru, who has made more money than practically anyone else, through shrewd acquisitions of solid, profitable companies.

Much life Apple, Buffett is the source of the company's success. Unlike Apple, however, Berkshire Hathaway has a strong plan to replace Buffett when he eventually retires or passes away. The fact that BH has made stockholders aware of this (albeit secretive) plan, has mollified fearful investors and will probably mitigate the drop in stock price that is inevitable when Buffett departs. Acknowledgment of and planning for this brand's evolution will probably save millions of dollars for BH investors.