By Paul Sullivan
Mr. Buffett has instructed his executors to not sell any shares of his firm, Berkshire Hathaway. But these types of directives typically result in lawsuits.
Warren E. Buffett’s annual letter to shareholders is always parsed for investing wisdom from the Oracle of Omaha.
And for good reason: His success at investing is well known. He points out in this year’s letter, which was released last weekend, that Berkshire Hathaway has gained 2,744,062 percent since 1965, compared with a mere 19,784 percent gain for the S&P 500. On an annualized basis, Mr. Buffett has returned twice as much as the stock index.
All that success has made him a very rich man, and this year, at age 89, he added a few lines that had little to do with Cherry Coke or See’s Candies. He addressed what happens to his vast wealth when his time is up…
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