Question Marks Still Hang After Berkshire Meeting

Shareholders' concerns about who will replace Buffett grow larger and larger with each year that passes

Greggory Warren, CFA 6 May, 2011 | 9:26AM

While many questions were answered during Berkshire Hathaway's (BRK.A,BRK.B) annual gathering this past weekend, there were plenty that were left unanswered (and many that we feel shareholders will want to have answered sooner rather than later).

As we had expected, the David Sokol affair was front and center, with Warren Buffett seemingly deflecting the first question that he was asked about the resignation of his top lieutenant by walking through the timeline of what he knew and when he knew it (information that was already revealed in the press release Berkshire's board posted late last week).

He took it one step further, though, when he noted that he was disappointed by Sokol's inexcusable and inexplicable behavior, which not only violated Berkshire's insider-trading rules but the principles that he lays out for his managers every couple of years.

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About Author

Greggory Warren, CFA  Greggory Warren, CFA, is a senior stock analyst with Morningstar.

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