that shocker came after sokol revealed he bought lubrizol stock just before buffett acquired the chemical company. then last week, berkshire's audit committee issued a scathing report saying sokol violated berkshire's ethics and insider trading policies. at berkshire's annual shareholders' meeting, buffett admitted he made a "big mistake" in not questioning sokol about those stock purchases. still, he said sokol's actions were "inexplicable and inexcusable." >> a man made a terrible mistake and he's paying for it, unfortunately, and i feel badly for him. but berkshire moves on. >> susie: are you angry about what david sokol did? >> i'm disappointed. but, you know, he did a lot of good for berkshire-- some terrific things-- and to this point i never found anything to criticize, so i'm disappointed. >> susie: mr. buffett, what changes are you making at berkshire so another david sokol situation doesn't happen again? >> well, i think if you look at our code of ethics and our insider trading rules, i think you'll find they are very comparable to other major companies-- that if somebody's goin

money manager mario gabelli. >> the background noise of what has occurred in the papers with the lubrizol deal has created an air pocket in the stock. it's worthwhile to stay with it. in fact, it's getting to be time to buy it. >> susie: money manager david rolfe sees the stock topping $175,000 this year. >> it's very rare when you can buy berkshire hathaway when earnings look like they are compounding at plus 25%, as well as how cheap the stock is today. again, it's a very a rare opportunity to pick up these shares at a significant discount to fair value. >> susie: the meeting's other big topic? who will fill buffett's enormous shoes once the octogenarian is gone. buffett told shareholders the unnamed leading candidate is "as straight as an arrow." >> it's absolutely essential that anybody that runs berkshire be a first class character, but that's always been true. >> susie: matt rose is rumored to be buffett's top pick. he is c.e.o. of burlington northern. that's the huge railroad buffett bought a year ago. but rose is mum on the subject. >> i just think warren's going to be around a lo