Re: Today is the greatest day of the year (Buffett's letter released)
Buffett's letter was a nice read as always. He talked about his successor - said that he has 3 people picked out who can run the businesses that BRK owns, but still needs to find somebody to control the investments. It would be Lou Simpson, but Lou is only 7 years younger that Warren, and he needs somebody much younger who could hold the position for many years.
Eddie's letter was short and to the point, lacking the jokes and anecdotes that Waren includes. He repeated his complaints about the pension "insurance" he's forced to participate in, and added some complaints about the culture of litigation in America. He wants to see a better "loser pays" system that would discourage some of the frivelous lawsuits against big companies, of which Sears sees several a day.