Filed Under:Markets, E&S/Specialty

The Quotable Warren Buffett

NU Online News Service, Feb. 24., 12:00 p.m. EST

Read what Warren Buffett, chief executive officer of Berkshire Hathaway, has to say about his successor, his company’s insurance operations, the economy, and a newspaper-throwing challenge.

BUFFETT ON HIS SUCCESSOR:

"Do not, however, infer from this discussion that Charlie and I are going anywhere; we continue to be in excellent health, and we love what we do."

BUFFETT ON INSURANCE:

"There are a lot of ways to lose money in insurance, and the industry is resourceful in creating new ones."

BUFFETT ON AJIT JAIN:

"Charlie would gladly trade me for a second Ajit. Alas, there is none."

BUFFETT ON GENERAL RE:

“Many insurers pass the first three tests but flunk the fourth.” 

BUFFETT ON GEICO:

“Our lizard has another endearing quality (other than guiding consumers to the GEICO's website for a quote): Unlike human spokesmen or spokeswomen who expensively represent other insurance companies, our little fellow has no agent.”

BUFFETT ON THE HOUSING RECOVERY:

“Last year I told you that ‘a housing recovery will probably begin within a year or so.’ I was dead wrong.”

BUFFETT ON NEWSPAPER-THROWING:

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