Wednesday, March 30, 2011

Nobody front runs Warren Buffett.

From Bloomberg:
David Sokol, once a candidate to succeed Warren Buffett as the head of Berkshire Hathaway Inc. (BRK/A), resigned after helping to negotiate the acquisition of a company whose shares he had purchased.

Sokol, 54, bought about 96,000 Lubrizol Corp. (LZ) shares before recommending the company as a takeover target, Buffett, Berkshire’s chairman and chief executive officer, said today in a statement. Buffett said he didn’t ask for the resignation and that Sokol’s stock purchases were legal.
Not sure if you can belive that last sentence, but Sokol was one dumb greedy bastard.

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