What Warren Buffett said to shareholders
Likes issuing more Berkshire (BRK.A) shares as much as preparing for a colonoscopy
In his annual letter to Berkshire (NYSE: BRK.A) shareholders, Warren Buffett divided Berkshire's (BRK.A) operations in four major groups.
He praised the managers of his insurance companies for earning billions of dollars for the company. Mr. Buffett especially likes the work of Tony Nicely of GEICO, Ajit Jain of National Indemnity and Tad Montross of General Re. Ajit Jain is so valuable for the company that Warren Buffet suggests that if you ever see Charlie, Ajit and him in a sinking boat you should save Ajit. Buffett expects lower growth for GEICO in 2010, because many people won't have the money for the car insurance.
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