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: