Be Careful Who You're F***ing With

The Berkshire Hathaway Audit Committee just came out with its report on the David Sokol/Lubrizol debacle.

Read this report.  Seriously.  Now.  Not just for the facts - which are interesting in themselves - but, more, to see how one of the best players plays it when things go wrong.  Which they did.  Badly.

They go back to their playbook - and they hold to it.  Hard.

It's never a good idea to f**k around with someone like Warren Buffett.  Let's face it, "Oracle of Omaha" and all of his nice guy press aside, he has to have killer instincts to have gotten him where he is - and kept him there.

Add in the fact that the BH Annual Meeting for shareholders is this weekend and you know he had to get this taken care of faster than fast.  Had he not, just as his investment in Goldman Sachs was the big topic at his last meetings, this one would take up way too much time in this one.

He headed that off at the pass.  Now, when asked - which he will be - he can happily point to the Audit Report.  Sweet.

More than anything, the report gives a fascinating look at the nexus of policy and enforcement when it's done right - if a bit late.

Resource

Berkshire Hathaway Audit Report