And Warren Buffett’s Successor Is ...

Live From Omaha Munger Praises Jain and Abel, Fueling Speculation About Buffett’s Successor After Warren Buffett reiterated that Berkshire’s board has identified his successor, Charlie Munger name-checked Ajit Jain and Greg Abel as “world-leading” executives. Munger also listed the four main factors of Berkshire’s success. Subtext: Don’t try this at home.

Today’s Top Stories HOW MUCH MORE ECONOMIC PAIN CAN VLADIMIR PUTIN TAKE? It looks like the one-two punch of economic sanctions and cheap oil are about to wreck Russia. LUMBER LIQUIDATORS PLUNGES AFTER 60 MINUTESFORMALDEHYDE STORY Video showed managers at three Chinese flooring factories admitting to using false labeling to make it look like the company’s products met regulations. THE 15 MOST MISERABLE ECONOMIES IN THE WORLD Venezuela, Argentina, South Africa, Ukraine and Greece are not in good shape for 2015. WILL CITIGROUP’S CEO NEED A NEW JOB? In less than two weeks, Michael Corbat will learn whether the Federal Reserve has approved his 2015 capital plan. HOW LONDON BILLIONAIRES HIDE ASSETS IN SECRET LUXURY HOMES London’s surging property market has become one of the more attractive ways to launder pounds.

Does Anyone Want a Snack? 2.8 Million Munchies and Other Numbers From Colorado’s First Year of Retail Marijuana These numbers are high—and getting higher.