03 May, 2011

At last Buffet speaks ! Thank you Mr.buffet for reading my blog :)

Mr. Buffett, now i think is following my blog religiously. Earlier in my blog i stated that buffet has to speak up at the rumors that the corp was entangled around the Lubrizol deal, he now has provided a detailed account of the questionable trades and declared that he did not believe the purchases "were in any way unlawful."!!!

Buffett said, "What I think bothers some people is that there wasn't some big sense of outrage." He added, "I plead guilty to that." While Buffett praised Sokol in the statement announcing the resignation, he left out one big "ruthless" fact that would change the narrative completely. The day he issued the release, Berkshire called the Securities and Exchange Commission and briefed them on Sokol's trades. (That’s the man i know as Mr. Buffet)

"I felt that if I'm laying out a whole bunch of facts that are going to create lots of problems for him for years to come, that I also list his side of the equation in terms of what he'd done for Berkshire," Buffett said.

Buffett, who was clearly overcome with emotion at the time he drafted the original press release and is said not to have slept well for several days that week,..more at this link.

Hats off to you Mr. Buffet, you always deserve my respect, not just for what you do, but for being the person who you really are as always.....