The CEO's Bias in Acquisitions

Berkshire Hathaway CEO Warren Buffett says CEOs are encouraged by their advisors to make deals. Berkshire will continue to earn extraordinary returns from what appear to be ordinary businesses, he writes. The company's goal will be to acquire either part or all of the business that we believe have good, sustainable, underlying economics and run by managers whom we like admire and trust. Berkson: Sensible share repurchases versus green mail.