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Buffett facing prostate cancer

Berkshire Hathaway chairman and chief executive Warren Buffett

Berkshire Hathaway chairman and chief executive Warren Buffett says he is facing Stage 1 prostate cancer and his outcome is very good. (Sept. 30, 2011) Photo Credit: Getty Images

Berkshire Hathaway Inc. chairman Warren Buffett has been diagnosed with Stage 1 prostate cancer that is "not remotely life threatening," the billionaire investor said in a letter to investors.

Buffett, 81, will begin a two-month treatment of daily radiation beginning in July, he said in the letter. The regimen will restrict his travel during the period and not otherwise change his daily routine, said Buffett, who is also chief executive of the Omaha-based company.

"I feel great -- as if I were in my normal excellent health -- and my energy level is 100 percent," Buffett said in the letter Tuesday. "I will let shareholders know immediately should my health situation change. Eventually, of course, it will; but I believe that day is a long way off."

Buffett has been preparing investors for an eventual transition, telling shareholders in his most recent annual letter that the board has a candidate for chief executive. Buffett has said his son, Howard, would guard the company's culture as nonexecutive chairman and has hired two former hedge-fund managers to help oversee investments.

Buffett received the diagnosis April 11 and received an MRI Tuesday that showed no incidence of cancer elsewhere in his body, according to the document.

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