Warren Buffett has announced that he has prostate cancer, but says his illness is "not remotely life-threatening or even debilitating in any meaningful way." The 81-year-old Berkshire Hathaway chief likely disclosed his condition to curtail rumors that something more serious was going on, writes Diane Brady. "Now that the world's most famous investor has decided investors deserve to hear about his cancer diagnosis, perhaps he'll show similar transparency when it comes to talking about succession," she adds.

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