Jim Cramer sent his best wishes to Berkshire Hathaway’s Warren Buffett on Tuesday after the famed investor announced he has stage 1 prostate cancer, but “feels fine.”
Buffett said his condition "is not remotely life-threatening or even debilitating in any meaningful way." Nevertheless, the news is likely to intensify the already brewing debate about the succession plan at Berkshire Hathaway .
“I think Warren Buffett's a financial version of Steve Jobs. He understands that no one is immortal,” Cramer said on CNBC's "Mad Money." “In fact, I think very few people have spent as much time as Buffett has measuring who should be at the helm after he departs.”
Buffett has told people that he has three candidates ready to succeed him, Cramer said. Whoever gets the job, Cramer will give them his full confidence, as he had when Jobs picked Tim Cook as his successor at Apple.
Understandably, some investors may be worried about Berkshire Hathaway’s stock. To Cramer, it comes down to fundamentals. He thinks Berkshire Hathaway will continue to benefit from a turnaround in the U.S. housing market.
“We want Warren to get better fast,” Cramer said. “But we also want to be very clear that if anyone sells this stock down on this news, it would be, I think, a mistake, one that can be rectified by your buying some Berkshire Hathaway into any-Buffett health related weakness.”