Annual Warren Buffett lunch auction begins Sunday

June 4, 2012 • Business

FILE – In this file photo from May 7 2012, Warren Buffett, chairman and CEO of Berkshire Hathaway, gestures in Omaha, Neb. Buffett is again auctioning off a private lunch, and the California charity that benefits is hoping the winning bid will top $2 million for the fifth year in a row. The proceeds of the 13th annual lunch auction go to the Glide Foundation, which provides social services to the poor and homeless in San Francisco. Bidding for the lunch on eBay will begin on June 3, 2012, and continue through June 8. (AP Photo/Nati Harnik, file)

OMAHA, Neb. (AP) — It’s true that Warren Buffett hired the hedge fund manager who won the last two private lunches with him that are part of an annual auction, but he doesn’t expect the event to become a recruiting tool for Berkshire Hathaway.

Rather, Buffett says it’s miraculous that he found one of Berkshire’s two new investment managers through the lunch. He offered Ted Weschler a job after he’d paid nearly $5.3 million over two Login to read more

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