• davidsokol


    Former Berkshire Hathaway Executive Has Only The Nicest Things To Say About Warren Buffett

    On March 30, 2011, Warren Buffett penned an open letter expressing support for his former lieutenant, David Sokol, whose trading activities had been called into question. “Neither Dave nor I feel his Lubrizol purchases were in any way unlawful,” Buffett wrote. Then, a month later, he told shareholders and reporters gathered at the BKR annual meeting in Omaha that, actually, Sokol was a degenerate bum; a piece of garbage that needed to be taken out, lest it stink up the place. (Actual words: “inexcusable,” “inexplicable,” in violation of “the company’s insider-trading rules and code of ethics.” Buffett added that Berkshire “had turned over some very damning evidence” re: Sokol to the Securities and Exchange Commission, to boot.)

    Though Sokol did not publicly respond to the comments at the time, they presumably stung quite a bit, since having your unassailable ex-boss basically call you a lowlife does not do wonders for the reputation. Now, a year later, after being informed that the SEC would not be taking action against him, is he in a Zen place about life in general and Buffett’s words specifically? Are the two men cool? Could Sokol see them being friends again one day? At the very least, is he ready to laugh about them? Yes, yes he is.

    / Jan 7, 2013 at 11:56 AM
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    Andrew Sorkin Wants To Hear Warren Buffett Say “I’m Upset With Myself”

    As you may have heard, this weekend is Berkshire Hathaway’s annual shareholder meeting. As he has in the past, CEO Warren Buffett will speak at length, and unlike time’s past, this year’s talk will include at least one awkward topic, that being the David Sokol/Lubrizol incident. We previously came up with a bunch of WB-esque […]

    / Apr 28, 2011 at 2:02 PM
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    Berkshire Hathaway Was Just Kidding When It Said David Sokol Hadn’t Done Anything Wrong

    The audit committee has concluded he “violated the company’s standards of ethics” vis-a-vis the whole Lubrizol incident.

    / Apr 27, 2011 at 4:46 PM
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    Warren Buffett, David Sokol And Berkshire Hathaway Sued By Shareholder

    Mason Kirby is not happy about the Lubrizol incident and can’t believe Buffett would allow such a thing to go down on his watch.

    / Apr 19, 2011 at 4:10 PM
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    Can David Sokol Really Be Expected To Recall Everything He Knew About The Lubrizol Deal And When?

    When David Sokol, the Berkshire lieutenant thought to be the frontrunner for Warren Buffett’s job resigned two weeks ago, Buffett sent a letter mentioning that Sokol owned a bunch of shares of Lubrizol, which he had bought before pitching WB on the idea for the company. Sokol says he didn’t know much or how Buffett […]

    / Apr 12, 2011 at 5:35 PM
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    Whitney Tilson Doesn’t Give A Hoot About This David Sokol Business

    T2 Partners is sticking with Buffett, Lubrizol incident be damned.

    / Apr 5, 2011 at 3:19 PM
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    Let’s Do Warren Buffett A Solid

    As you may have heard, yesterday afternoon Warren Buffett announced the resignation of top lieutenant David Sokol, thought to be the frontrunner to take over Berkshire Hathaway when Buffett retires. In his statement, Buffett disclosed that Sokol bought himself a bunch of shares of Lubrizol before suggesting Berkshire make an investment, which they ultimately did. […]

    / Mar 31, 2011 at 2:03 PM
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    David Sokol: I Did Nothing Wrong But…

    “Knowing today what I know, what I would do differently is I just would never have mentioned it to Warren, and just made my own investment and left it alone.”

    / Mar 31, 2011 at 9:25 AM
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    David Sokol, Frontrunner To Succeed Warren Buffett, Resigns From Berkshire Hathaway

    David Sokol has left the building. Here’s the note on the matter from WB. Apparently there’s a question about the appropriateness of some buying and selling of Lubrizol on Sokol’s behalf, though Buffet says, to his knowledge, nothing “unlawful” went down on Berkshire’s watch: This press release will be unusual. First, I will write it […]

    / Mar 30, 2011 at 5:07 PM

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