"They are the key figures", said Buffett in a "Squawk Box" interview from Omaha.
This move makes the succession plan clear for investors, said Andy Kilpatrick, who has followed Berkshire for years while writing and updating "Of Permanent Value: The Story of Warren Buffett".
"Today's news codifies the importance of Greg Abel and Ajit Jain to not just their current businesses, but their future authority once Buffett relinquishes the CEO title", he added.
"In terms of cryptocurrencies, generally, I can say nearly with certainty that they will come to a bad ending", Buffett said in an interview on CNBC on Wednesday.
"They know each other well, they like each other well, they both have their areas of specialty", he said. He said jokingly, "I wasn't much to start with".
The hard-driving Buffett, who has been reluctant to name a successor, said in the past that Berkshire's board knows who would take over if something were to happen to him. "Berkshire will operate best if its CEOs average well over 10 years at the helm".
The company's Board of Directors also voted to increase the number of directors to 14 from 12. Jain is the executive vice president of National Indemnity Company and joined the Berkshire Hathaway Insurance Group in 1986.
Nevertheless, Buffett, the world's third richest person according to Forbes magazine, has long said Jain has probably made more money for Berkshire than he has. Speculation had centered on Abel and Jain as possibilities.
Why? Because their client, the President of the United States, can not string two sentences together without lying. No lawyer worth his or her salt would let a client like Trump go in for an interview. "So this route makes sense".
And in a new interview with fellow beloved, now retired public figure, David Letterman , the two discuss his dance moves. The full episode which includes Letterman's interview with Obama is scheduled to be released on Netflix on January 12.
He also remained neutral when asked if he believes the industry will eventually turn on Allen the way it had on Weinstein. In addition, Farrow also revealed that his relationship with his estranged father, Woody Allen , is deeply complicated.
Packers now preparing to hire former Browns' HC Mike Pettine as their defensive coordinator, per league source. Pettine would replace Dom Capers , who was sacked earlier this month after nine years with the team.
Trump joined the committee chairman in criticizing Feinstein for releasing the information without Grassley's consent. The California Democrat rebuked Trump's tweet suggesting that she broke the law by releasing Simpson's testimony.
Five members of the Tampa Bay Lightning organization will represent the Bolts during the 2018 NHL All-Star Weekend in Tampa. Kane, who has 18 goals and 27 assists this season, will make his seventh appearance in the game when he heads to Tampa Bay.
The reports that the 7.6 magnitude makes this one of the most powerful earthquakes to hit the Caribbean in modern day history. The tremor was about 25 miles (44km) east of Honduras's Swan Islands, which are unpopulated except for a small navy post.
They add: "The finding supports strongly the current efforts to reduce cigarette experimentation among adolescents". According to the researchers, one smoking experience is enough to leave a " remarkable hold " on the first timer.
Trump has lashed out at Bannon for comments made in an explosive new book that questions the president's fitness for office. The move follows a brutal week for Bannon, after President Trump - and Bannon's patrons, the Mercer family - disowned him.