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CalPERS, America’s largest state pension fund, wants to remove Warren Buffett as chair of Berkshire Hathaway. CalPERS says that Buffett shouldn’t be CEO and chair at the same time. Don Kaufman, TheoTrade chief market strategist, agrees in this NTD Business News segment. Beside the conflict inherent in one person fulfilling the roles of CEO and chair, Buffett’s age is a big issue not being discussed. “No one wants to mention the obvious fact that he’s 91 years old,” says Kaufman. “His age produces a considerable amount of risk to the underlying shareholders.”
