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30 Apr 2011

Warren Buffet Admits Committing Mistake

Very few people can rise to the level and stature of Warren Buffett who publically stated in front of a 40000 people gathering that he committed mistake by not questioning Sokol more about his Lubrizol stock when they first discussed the company in January.

He further stated that David Sokol clearly violated Berkshire Hathaway's ethical standards when he bought stock in Lubrizol before recommending that Berkshire buy the chemical company. He was candid enough to admit in front of an arena full of Berkshire Hathaway shareholders at the company's annual meeting on Saturday that he doesn't think he will ever understand why the former Berkshire executive did what he did. He further stated that the situation was sad for Berkshire and sad for Dave. It is remarkable that he spent 6 hours answering questions by the investors.

One can get a better insight about him by going through Warren Buffet powerpoint presentation which will provide a role model for people to follow and prosper in their lives.

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