Warren Buffett diagnosed with prostate cancer

Legendary investor Warren Buffett said he has been diagnosed with prostate cancer, but asserted that his condition is not 'remotely' life-threatening and he feels 'great' with '100 per cent' energy level.

In a letter to his shareholders, the Berkshire Hathaway chief said he has been diagnosed with 'Stage I prostate cancer' on Wednesday and will begin a two-month treatment of daily radiation in July.

"The good news is that I have been told by my doctors that my condition is not remotely life-threatening or even debilitating in any meaningful way," the 81-year-old investor and philanthropist, said.

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Buffett said he has had several medical tests, including a CAT scan, bone scan and an MRI.

The tests have shown no incidence of cancer elsewhere in his body.

The radiation treatment, which will begin in mid-July, would restrict his travel during that period, but will not change his daily routine.

"I feel great -- as if I were in my normal excellent health -- and my energy level is 100 per cent," he said.

The cancer was detected after a medical condition prompted a biopsy, he added in the letter.

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Buffett said he will inform his shareholders immediately should his health situation change, adding, "Eventually, of course, it will; but I believe that day is a long way off."

He had, for the first time, in February said in his annual letter to Berkshire shareholders that he had chosen a successor.

Buffett, however, had not named the candidate.

Indian-origin Ajit Jain, head of the company's reinsurance operations, is said to be one of the leading candidates to succeed him.

Berkshire shares rose 1.4 per cent yesterday but were down 1.8 per cent in post-market trading.