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Question: Warren Buffett's  plans to eventually pass the reins of Berkshire Hathaway to a successor took has taken a major new step. On Tuesday   Buffett  laid out why Greg Abel  CEO of Berkshire Hathaway  and Ajit Jain  head of its insurance operations  will join Charlie Munger as vice chairman of the $500 billion conglomerate.
Jain  by contrast  oversees Berkshire's gigantic insurance outfit  where he's shown deft underwriting skill and the discipline to trim exposures to overly competitive markets like catastrophic insurance and reinsurance when pricing is unfavorable. A native of India  Jain came to the U.S. to get an MBA at Harvard and then cut his teeth at consultancy McKinsey. In 1985  he was hired by  Buffett  to work in Berkshire's insurance operations. Said  Buffett  in a 2009 shareholder letter  "I immediately knew we had found a superstar." A decade later  the division was bolstered by  Buffett 's acquisition of the Geico shares Berkshire didn't already own. From an insurance float of $3.6 billion in 1995  Berkshire's float now stands at about $100 billion annually.
In addition to Abel and Jain  Berkshire's investing business also has two rising figures.  Buffett  is increasing  his  allocations of Berkshire funds to lieutenants Todd Combs and Ted Weschler  who each manage over $10 billion  and have led the conglomerate to positions ranging from Apple to Charter Communications.
As succession plans harden   Buffett  and Munger will continue in their existing positions. That means they will continue to be overseeing major capital allocation decisions and investment activities  for instance any major deals. In addition to making headlines for Berkshire's succession plans   Buffett  also made headlines for  his  views on the wider investing landscape.
Most notably   Buffett  said tax reform will have a big impact on Berkshire's owners  telling CNBC's Quick that shareholders effectively have seen their ownership of  the company 's profits rise by over 20% as corporate rates have fallen from 35% to 21%.
About crypto currencies   Buffett  said today's euphoria inevitably will lead to heart break. "If I could buy a five year put on any of the crypto currencies I would do it "  Buffett  said  admitting  he  would never short the speculative asset because it's not something  he  knows well.  He  dished out the following common sense  "why in the world should I take a short position in something I don't know anything about."
But  his  views are crystal clear. "I think what's going on definitely will come to a bad ending "  Buffett  said.
Warren Buffett: My Greatest Investing Advice And The Investments Everyone Should Make

Answer: Berkshire Hathaway Names Abel And Jain As Vice Chairmen As Buffett Succession Plans Sharpen


Question: In an interview with NHK after polls closed   Abe  said  he  would push for an amendment.
“The ruling parties have been granted a majority ”  he  said. “I think it was the people’s voice telling us to make progress in politics and bring results with a stable political base.”
For a leader touting stability  the election had been a gamble.  Abe  had called the vote more than a year early  justifying it by saying that  he  needed a new mandate to deal with the threat posed by North Korea and to work through the details of a consumption-tax increase.
Many analysts said  Abe ’s motive was more opportunistic  however  with the prime minister taking advantage of the disarray of the Democratic Party  Japan’s main opposition party  and a small bump in  his  approval ratings after a number of scandals earlier this year.
The LDP has long dominated postwar Japanese politics. For many Japanese voters   Abe ’s leadership represents stability after years of short-lived governments before  he  returned to the prime minister’s office in 2012.
Some analysts suggest  however  that the weakness of the opposition may mask discontent with  Abe  and a lack of support for many of  his  policies. One exit poll cited by Kyodo showed 51 percent of voters saying they don’t trust  Abe   while 44.1 percent said they do.
Koichi Nakano  a professor of political science at Sophia University  said that the election exposed a lack of widespread support for  Abe ’s policies.  Abe  did not win “because people enthusiastically support  him  ” Nakano said. “People are disaffected and the opposition is divided.”
The bad weather may have also helped  Abe . The approaching Typhoon Lan left voters battling strong winds and heavy rain to make it to polling stations. On Monday  Kyodo estimated the final turnout at 53.69 percent  only marginally above a record low in the 2014 election.
Despite the rain  a number of voters could be found exiting a polling station in Tokyo’s cosmopolitan Roppongi neighborhood Sunday morning. Nobue Koizumi  a 67-year-old retired translator  said she had felt compelled to vote because of fears about  Abe ’s security policies.
“I don’t particularly support  Abe   but I do support” the LDP  said Hiroki Shinohara  a 54-year-old wholesaler at the Tsukiji fish market. “I feel it’s doing what’s right for Japan  and Japan needs it.”

Answer: Japan election: Shinzo Abe's coalition wins supermajority


Question: Andrea Ramsey  a Democrat vying to unseat Republican Rep. Kevin Yoder   dropped out after The Kansas City Star asked  her  about a 2005 lawsuit that claimed  she  sexually harassed a subordinate  Gary Funkhouser  at LabOne  a firm where  she  was a vice president of human resources.
 Ramsey  56  of Leawood  Kan.   was not named as a defendant in the suit against LabOne but was mentioned in it several times.  She  denied the charges.
The suit was settled in 2006  but  Ramsey  said  she  was unaware of that and would have opposed settling  the newspaper reported.
 Ramsey  was one of several Democrats seeking to be on the ballot for the Kansas City-area district in next yearâs midterm elections.
 She  had been endorsed by Emilyâs List  a womenâs group that has raised more than $500 000 to help female candidates who support abortion. The group later pulled the endorsement.

Answer:
Congressional candidate drops out of race after sex harassment suit surfaces