Berkshire Hathaway Inc. (BRK.B): 6 Quotes From Buffett’s Annual Letter That Nobody Else Is Talking About

On page 8, Warren Buffett basically says (and I’m paraphrasing), “Bow down before your new master!” But maybe I’m reading too much into that quote and its implications for the CEO succession question. When the leadership transition comes, I’m guessing it won’t be General Zod style, although that would be undoubtedly memorable.

At any rate, my gut says that Ajit Jain will be the successor. My brain says that he’s a likely choice too. But my heart says Kabletown CEO Jack Donaghy. I miss you already, Mr. Donaghy.

Some of you kids were “oops babies”

On page 19, amid a discussion on dividend theory, Buffett admits that some of his corporate children were perhaps conceived by mistake, but he won’t ever tell us which of those kids are his least favorites. You know all the subsidiary CEOs are reading this and wondering if he’s talking about them. I’m looking at you, Pampered Chef.

You want fries with that mu shu pork?

On page 21, Warren Buffett says something that immediately raises my skepticism. There is a restaurant in my hometown that sometimes leaves take-out menus on my door handle, and they do indeed feature a full menu of both hamburgers and Chinese food (and subs and Buffalo Wings too). I’ve been getting these menus for years, and they have expanded to three locations, so I take that as evidence that the restaurant is doing a fine job of successfully running a hamburger and Chinese food business with repeat customers.

Admittedly, I’ve never ordered take-out from there.

Fast company

People who constantly post their running times and daily workout distances on Facebook always find their way into my “Hide posts from this person” bin. I don’t check Facebook to feel bad about my own lack of exercise. I check Facebook for pictures of my friends’ babies, graphics and quotes that reaffirm my own political views, and re-posts of cat pictures with funny captions.

Anyway, having said that, on page 22, Buffett runs down the marathon times of his top employees and directors, and I immediately vow to vote against all of them if I ever save up enough money to buy an A share with voting rights.

Berkshire Hathaway Inc. (BRK.B): 6 Quotes From Buffett’s Annual Letter That Nobody Else Is Talking About

Published on March 19, 2013 at 12:02 pm by The Motley Fool in Hedge Funds

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