Berkshire Hathaway Falls as Buffett Hands Howard the Chair

This article first appeared on GuruFocus. Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B), the insurance-and-industrial conglomerate, completed its split succession Friday by naming Howard Buffett chairman and Warren Buffett (Trades, Portfolio) chairman emeritus. Class B shares fell $506.71, extending the market's cautious reaction to a leadership structure that now spreads responsibilities once concentrated around Warren Buffett (Trades, Portfolio). Warning! GuruFocus has detected 3 Warning Signs with TM. Is BRK.B fairly valued? Test your thesis with our free DCF calculator.BRK.