Asked if anyone else could have negotiated Berkshire's preferred stock and warrant deals with General Electric , Goldman Sachs , and Bank of America at such favorable terms, Buffett acknowledges that he had special skills in those instances. But he says the next CEO will be able to make deals and will bring his own skills to the job. "We're not going to have an arts major in charge of Berkshire."
In addition, Buffett says deals like GE, Goldman, and BofA, create values that are "peanuts" when compared to buying good companies, like Geico, over the years.
Current Berkshire stock prices:
Keep up with Warren Buffett on CNBC.com and
follow alexcrippen on Twitter.
Email comments to email@example.com