It’s all over the financial press. David Sokol bought stock in a company he was suggesting that his boss, Warren Buffett of Berkshire Hathaway, might be interested in buying. That shocks IFO.
She never thought those guys were angels, but really. Of course, Mr. Buffett is a FOO (friend of Obama), and well-known as a card-carrying liberal, but we’re well aware that conservatives have also done unsavory things. We just can’t think of any right now.
Mr. Sokol bought shares of that company just a few weeks before Buffett announced the deal to buy the company at a premium. The acquired company’s share price jumped up several percentage points in one day. Yes, as Mr. Buffett said, that share-buying activity ahead of the purchase announcement may not have broken any laws, but still… did you look at the timeline?
Mr. Sokol resigned the day Mr. Buffett released the stock-buying information, but his resignation letter said the resignation was for personal reasons.