Editor's Desk
By Rik Kirkland/Managing Editor

(FORTUNE Magazine) – To cover 1.3 billion people, a writer needs to pack a big per capita punch. Happily, FORTUNE's new China hand, Clay Chandler, does just that. Clay, who's fluent in Japanese, has spent more than a decade writing about Asian politics, economics, and business for the Wall Street Journal and the Washington Post. As Asia editor, he'll shuttle between Hong Kong, Shanghai, and points beyond to bring you timely insights and surprising tales from this vital region. Check out "Who's Hu?" for Clay's take on the new leadership that will soon be running China.

More chips, Andy? No, our Silicon Valley ace Brent Schlender didn't put it that way when he sat down in a Stanford University cafeteria to interview Intel's legendary chairman Andy Grove. But he could have. That's because if you look beyond the cable biz-show babble about penny misses in earnings and how that affects the Saint Vitus' dance of this hyper-twitchy market, the news about Intel is this: Amid the deepest slump in tech-industry history, the king of semiconductors is doubling down its bet--to the tune of $10 billion. "Capacity is strategy," Grove says, and by investing in a new generation of giant chip fabs, Intel aims to widen its lead over the competition, break into new non-PC markets, and fatten shrinking margins. It's risky, and it makes some analysts nervous. But thanks to Schlender's deep access to Grove, CEO Craig Barrett, co-founder Gordon Moore, and the Intel team, you'll understand the strategy--and the stakes--as never before.

He's not Mick Jagger, Andy Serwer's cover subject a few issues back. But investors everywhere think of Warren Buffett as Mick, Keith, John, Paul, and Elvis rolled into one. What may surprise Buffett fans, as Andy points out in his current story, is how much the man rocks, not only because he's making good bets in the market these days but also because he's buying--and managing--good companies. "Berkshire Hathaway may be the most singular FORTUNE 500 business ever," says Andy. "It shouldn't work, but it does." To bring you Buffett's latest thinking (and doings), Serwer hung out with the man for a frantic 48 hours, traveling from his home base in Omaha to a heavy-hitting golf outing at fabled Pebble Beach, Calif. The result is a fresh, fascinating glimpse of a place we can't get enough of: Warren's world.