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It was a simple executive-change notice, the kind that dots the financial press nearly every day. Todd Combs, one of Warren Buffett's senior managers, would be leaving Berkshire Hathaway to form a new unit at JPMorgan Chase. But this was far from an ordinary management change. For the first time in nearly a century, the fabled House of Morgan would invest its own capital in the stock market.
By David Reavill5
44 ratings
It was a simple executive-change notice, the kind that dots the financial press nearly every day. Todd Combs, one of Warren Buffett's senior managers, would be leaving Berkshire Hathaway to form a new unit at JPMorgan Chase. But this was far from an ordinary management change. For the first time in nearly a century, the fabled House of Morgan would invest its own capital in the stock market.