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Ted Weschler, current managing partner of hedge fund Peninsula Capital Advisors LLC, will soon join Berkshire Hathaway (BRK.A)(BRK.B) as one of two newly appointed money managers who will eventually replace Warren Buffett. Weschler’s connection with Buffett came about by an unusual means— the two met when Weschler paid a total $5.3 million to have lunch with him two years in a row through a charity auction. After two more meetings, Buffett offered Weschler the position, which he, already a successful hedge fund manager, accepted just a few weeks later. In his 11 years at his firm, Weschler made a return of 1,236%. Little has been reported about the low-key manager’s investing style, although Morningstar says his firm makes “substantial long-term investments in publicly traded companies possessing both strong prospects and outstanding management teams.”