Legendary investor Warren Buffet is diagnosed with prostrate cancer. It was detected in the 1st stage, and the doctors have concurred that the situation is far from being life threatening. And, Buffet says he feels fit as always, with 100% energy levels.
The radiation treatment will start in July and is expected to last for a couple of months.
The Berkshire Hathaway boss wrote a letter to the shareholders informing them of this update and has confirmed that cancer is not present elsewhere in his body.
The 81 year old veteran has promised to let his shareholders know of any new developments first before the world comes to know of it.
Ironically, the market rose by 1.4% during the trading session but fell 1.8% during the after trading hours. I wonder if there were any news that traders picked up during this time.
The company’s successor has been chosen but is not public knowledge yet. Speculations are rife that Indian origin Ajit Jain who heads reinsurance will be the likely candidate.