It doesn't surprise me that Buffett has posted these results. Anyone who watched the BBC2 programme recently will be acutely aware of the 'long term value' nature of 'Buffett style' investment.The short-term reactionary and momentum driven nature of the modern-day equity market has thown-up huge anomalies that Buffett has arbitraged. Yet again when the market runs in one direction he get's his reading glasses on and capitalises on our folly. When he passes away we will lose one of the all-time greats of our industry - I only wish that I had bought BH shares 25 years ago when I first read about him - c'est las vie - the benefit of hindsight !