Ted Weschler (born May 16, 1962) is a former

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...

manager and current investment manager at

Berkshire Hathaway Berkshire Hathaway Inc. () is an American Multinational corporation, multinational conglomerate (company), conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from ...

. Alongside Todd Combs, he is frequently cited as a potential future Chief Investment Officer of Berkshire.

Early life and education

Ted Weschler was born in Buffalo, New York, and spent much of his childhood in

Erie, Pennsylvania Erie (; ) is a city on the south shore of Lake Erie and the county seat of Erie County, Pennsylvania, United States. Erie is the fifth largest city in Pennsylvania and the largest city in Northwestern Pennsylvania with a population of 94,831 a ...

. Due to his father’s position as an executive of the A&P, the family moved often, largely locating in cities throughout the

Rust Belt The Rust Belt is a region of the United States that experienced industrial decline starting in the 1950s. The U.S. manufacturing sector as a percentage of the U.S. GDP peaked in 1953 and has been in decline since, impacting certain regions and ...

. He attended high school at Cathedral Preparatory School in Erie. He is a 1983 graduate of the

Wharton School of Business The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in ...

at the

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universitie ...

, earning his bachelor's degree in economics with concentrations in finance and accounting.

Career

After graduating from Wharton, Weschler worked for six years at

W. R. Grace and Company W. R. Grace and Co. is an American chemical business based in Columbia, Maryland. It produces specialty chemicals and specialty materials in two divisions: Grace Catalysts Technologies, which makes catalysts and related products and technologies ...

, an American chemical conglomerate. In 1989 he left Grace and for the next ten years was a partner in Quad-C Management, a private equity firm in Charlottesville, Virginia. Weschler was the managing partner of hedge fund Peninsula Capital Advisors which he founded in 1999. Peninsula's $2 billion fund returned 1236% before it was shuttered in 2011. In July 2010, at $2,626,311, Weschler was the top bidder in a

Glide Memorial Church Glide Memorial Church is a church in San Francisco, California, formerly a United Methodist Church congregation, which opened in 1930. Since the 1960s, it has served as a counter-culture rallying point, as one of the most prominently liberal chu ...

auction to win a private lunch with

Warren Buffett Warren Edward Buffett ( ; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net w ...

. In 2011, Weschler won a second lunch when he upped his bid to $2,626,411. His bids were anonymous until publicly announced by

Fortune Magazine ''Fortune'' is an American multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The ...

in September 2011. In 2012, Weschler joined Buffett at

, a year after Todd Combs joined as Berkshire's first investment manager. As of 2019, he managed $13 billion of the equity portfolio and $8 billion in pension funds.

Personal Investment Return

According to a public statement issued by Weschler, over the course of 28 years he grew an initial

Roth IRA A Roth IRA is an individual retirement account (IRA) under United States law that is generally not taxed upon distribution, provided certain conditions are met. The principal difference between Roth IRAs and most other tax-advantaged retirement pla ...

account balance of $70,385 into $131 million. This increase implies a 31% annual return on investment. Such increases were made exclusively through the purchase of publicly available securities and are indicative of long-term market outperformance.

Personal life

Weschler and his wife, Sheila, live in Charlottesville, Virginia with their two daughters, though he sometimes commutes to

Omaha, Nebraska Omaha ( ) is the largest city in the U.S. state of Nebraska and the county seat of Douglas County. Omaha is in the Midwestern United States on the Missouri River, about north of the mouth of the Platte River. The nation's 39th-largest cit ...

for his work at Berkshire Hathaway.

References

* {{DEFAULTSORT:Weschler, Ted 1971 births American investors American money managers Columbia Business School alumni People from Buffalo, New York Living people Florida State University alumni