We are talking about David Sokol, the heir apparent to Mr. Buffet's empire Berkshire Hathaway. So he bought shares of Lubrizol and then recommended the company to Mr. Buffet for consideration. No matter how you slice and dice the issue, it is just blatant stupid in every aspect. Warren Buffet tried to save face by getting half (or maybe 90%) of facts out fast was another insult to our intelligent. I am truly disappointed this time.
Well, if you live long enough and you care too much about the legacy, you are going to end up doing stupid things that you would never do.
So why Mr. Sokol did it? Yes he profit around 3 million with his purchase. Was 3 million worth the CEO jobs he hold, the reputation he has build for his whole life so far, given that 3 million probably doesn't mount to too much for him? Are WSJ reporters and national tabloids' reporter going to dig up everything about him?
I'm not talking celebrity, vanity, CBS. I'm talking about when you're nearer the end of your life than the beginning. Now, what do you think you think about then? The future? In the future I'm going to do this? Become that? What future? No. What you think is "How will I be regarded in the end?" After I'm gone. Now, along the way I suppose I made some minor impact. I did Iran-Gate and the Ayatollah, Malcolm X, Martin Luther King, Saddam, Sadat, etcetera, etcetera. I showed them thieves in suits. I've spent a lifetime building all that. But history only remembers most what you did last. And should that be fronting a segment that allowed a tobacco giant to crash this network? Does it give someone at my time of life pause? Yeah. -- Mike Wallace, from "The Insider"
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