Ted Weschler

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Ted Weschler
Born
Ted Weschler

(1962-05-16) May 16, 1962 (age 57)
Alma materThe Wharton School (B.S.)

Ted Weschler (born May 16, 1962)[1] is a former hedge fund manager and current investment manager at Berkshire Hathaway. Alongside Todd Combs, he is frequently cited as a potential future Chief Investment Officer of Berkshire.[2]

Early life and education[edit]

Ted Weschler was born in Buffalo, New York, and spent much of his childhood in Erie, Pennsylvania.[3] Due to his father’s position as an executive of the A&P, the family moved often, largely locating in cities throughout the Rust Belt.[4] He is a 1989 graduate of the Wharton School of Business at the University of Pennsylvania, earning his bachelor's degree in economics with concentrations in finance and accounting.[5][6]

Career[edit]

After graduating from Wharton, Weschler worked for six years at W. R. Grace and Company, an American chemical conglomerate. In 1989 he left Grace and for the next ten years was a partner in Quad-C Management, a private equity firm in Charlottesville, Virginia.[4]

Weschler was the managing partner of hedge fund Peninsula Capital Advisors which he founded in 1999. Peninsula's $2 billion fund returned 1236% percent before it was shuttered in 2011.[7]

In July 2010, at $2,626,311, Weschler was the top bidder in a Glide Memorial Church auction to win a private lunch with Warren Buffett. In 2011, Weschler won a second lunch when he upped his bid to $2,626,411. His bids were anonymous until publicly announced by Fortune Magazine in September 2011.[8]

In 2012, he joined Buffett at Berkshire Hathaway, a year after Todd Combs joined as Berkshire's first investment manager.[8] As of 2017, Weschler managed more than $10 billion on behalf of Berkshire[9].

Personal life[edit]

Weschler and his wife, Sheila, live in Charlottesville, Virginia with their two daughters, though he sometimes commutes to Omaha, Nebraska for his work at Berkshire Hathaway.[10]

References[edit]

  1. ^ staff, CNBC com (2014-10-06). "Tracy Britt Cool, Todd Combs and Ted Weschler". CNBC. Retrieved 2017-06-04.
  2. ^ "Ted Weschler: The Next Warren Buffett?". Bloomberg.com. 2012-11-09. Retrieved 2017-06-04.
  3. ^ Jordon, Steve (28 April 2013). "Investors earn handsome paychecks by handling Buffett's business". Omaha World-Herald. Retrieved 16 May 2019.
  4. ^ a b Eder, Steve; Zweig, Jason (3 January 2012). "Ready to Try On Mr. Buffett's Shoes". WSJ.com. Retrieved 16 May 2019.
  5. ^ La Roche, Julia (12 September 2011). "Meet Ted Weschler, The Guy Who Just Got An Investing Dream Job From Warren Buffett". Business Insider. Retrieved 25 January 2018.
  6. ^ Brodsky, Matthew (21 September 2011). "From Lunches With the Sage to Superhero Investor". Wharton Magazine. Retrieved 25 January 2018.
  7. ^ "Warren Buffett Deputy Ted Weschler Makes His Mark". www.institutionalinvestor.com. Retrieved 2017-06-04.
  8. ^ a b Loomis, Carol J. "Meet Ted Weschler: Buffett auction winner, Berkshire's new hire". Fortune. Retrieved 2017-06-04.
  9. ^ "2016 Annual Report" (PDF).
  10. ^ Jordon, Steve (29 April 2013). "Berkshire's Weschler, Combs pay tribute to 'terrific town'". Omaha World-Herald. Retrieved 16 May 2019.