"Simpson managed the investment portfolio of the insurance giant Geico, a subsidiary of Buffett's Berkshire Hathaway conglomerate, between 1979 and 2009. He returned an average of 20.3% a year between 1980 and 2004, trouncing the S&P 500's 13.5% average annual return over the same period. Moreover, he beat the benchmark in 18 of those 25 years.

Buffett never disclosed Simpson's later results "because his performance made mine look bad," he quipped in his 2010 shareholder letter. "Who needs that?"

The Berkshire chief praised Simpson's abilities in numerous investor letters and during several Berkshire meetings. Buffett even suggested the Geico executive would take charge of Berkshire's portfolio if he and his right-hand man, Charlie Munger, were to meet a sudden demise.


so Lou worked for Berkshire for 30 years.

Berkshire Hathaway FAQ

---

Contact Shrewd'm
Contact the developer of these message boards.