“We are lucky.”
—Warren Buffett, as he addressed thousands of shareholders at Berkshire Hathaway’s annual meeting in his hometown of Omaha, Neb., on May 2. He said insurance, along with utilities, another big business for Berkshire, are sectors “relatively unaffected by the recession.” Among Berkshire’s insurance companies are the auto insurer Geico Corp., reinsurer General Re and bond insurer Berkshire Hathaway Assurance.
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