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Thursday, March 31, 2011

Ex-Berkshire exec Sokol: I did nothing wrong-CNBC, (NYSE: LZ)

Former Berkshire Hathaway (BRKa.N) (BRKb.N) executive David Sokol on Thursday said he has invested in companies he then recommended for acquisition in the past, a day after Berkshire disclosed Sokol pushed Lubrizol Corp (LZ.N) to Warren Buffett after investing in it. But Sokol said on CNBC if he had it all to do again, he would have invested in Lubrizol for himself and not passed the recommendation on to Buffett. He said he did not expect Buffett to want to buy the company and was surprised at how quickly the "Oracle of Omaha" moved to make a deal. Sokol was seen by many investors as the most likely successor to Berkshire Hathaway's iconic CEO, though he made clear in the interview he did not aspire to the job and wanted to build his own "mini-Berkshire" instead.

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