It should have come as little surprise when Warren Buffett, 94, this month announced he is retiring as CEO of Berkshire Hathaway Inc (NYSE: BRK.A; NYSE: BRK.B).
Still, the news made headlines around the world.
For decades Buffett delivered outstanding results, consistently beating the market.
His performance and reputation earned him a loyal following, with investors watching his every move in an attempt to replicate his success.
So, with the Oracle of Omaha heading for the door who will fill the void?
Let's look at three high-performing investors who could be worth following in the years to come.
Image source: Motley Fool Editorial
Li Lu
Founder of Himalaya Capital, Li Lu, has been described as Asia's answer to Warren Buffett.
If fact, Li Lu once received a glowing endorsement from Warren Buffett's long-time partner, Charlie Munger.
I'm 95 years old. I've given Munger money to some outsider to run once in 95 years. That's Li Lu.
Li Lu's investments in numerous Chinese banks have delivered solid returns for Himalaya Capital over the years.
But its Li Lu's investment in BYD Company Ltd, a Chinese electric vehicle and battery manufacturer, that his fund is perhaps best known for.
His early stake in the company has yielded significant returns and demonstrates his focus on companies with strong growth potential in emerging industries.
Li Lu's strategy is aligned with the principles of Benjamin Graham, Warren Buffett, and Charlie Munger.
As such, Himalaya Capital embraces a value investing approach.
Chris Davis
Chris Davis, head of Davis Advisors, has seen his Davis Financial Fund consistently outperform the S&P 500 since its inception in 1991.
The fund's holdings include Meta Platforms (NASDAQ: META), Berkshire Hathaway, and Bank of New York Mellon (NYSE: BK).
The Davis Financial Fund has delivered annual returns for its class A shareholders of about 10% over the past 10 years.
The Fund invests in companies with "competitive advantages, strong balance sheets, solid free cash flows, earnings growth potential, and proven outstanding management".
Mohnish Pabrai
Mohnish Pabrai, founder of Pabrai Investment Funds, is another investor who has based his approach on Warren Buffet's principles.
And that approach has certainly paid off with his fund delivering annual returns exceeding 12% for more than two decades.
Pabrai's focus is on Asia and emerging markets.
He's made big bets on Alibaba Group (NYSE: BABA), Turkish holding company Reysas Logistics, and a range of Indian financials.
Foolish Takeaway
Buffett may be stepping away from the investing spotlight, but his legacy lives on.
Each of these investors offers unique insights and strategies rooted in value investing principles.
All are certainly worth studying.
Still, only time will tell if any will match the success of the outgoing CEO of Berkshire Hathaway.
