A company with a platinum reputation is starting to lose its glow in the eyes of shareholders.  There isn’t much to be done since its leaders are in their 90s and mortality is evident daily.  The company is Berkshire Hathaway and the leaders are Warren Buffett, 90, and Charlie Munger, 97.  Investors are starting to grumble that the two are losing their edge and missing opportunities, and they are worried about succession, although two executives are waiting to take over.  Buffett has always been his own best PR man.  He is articulate, witty and a world class company collector, but his stratospheric reputation cannot survive his age.  At some point he will go or he will die with his boots on.  Either way, his absence will shake the company as will the death of Munger.  Nothing is permanent although it is hard sometimes to remember that.  Buffett and Munger have been a two-person act that has run so long it is hard to believe it cannot go on forever.

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