How Warren Buffett Protégé David Sokol Lost His Way

The Story Of The Berkshire Hathaway Sokol Scandal

Berkshire's harsh report intensifies the attention the Sokol affair has focused on the succession question at Berkshire, a company whose achievements and $205 billion market capitalization depend heavily on its reputation for "playing in the middle of the court," to use a famous Buffettism, and nowhere near the ethical boundary lines. Sokol's sudden fall has also shaken a city that takes tremendous pride in its association with Berkshire. "We're all sad, indeed," says Daub, a partner with the law firm Husch Blackwell. "It's a shock."

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