A 2000 Forbes piece began, "the next Warren Buffett is a reclusive soul who, like Omaha's legendary wizard, is devoted to value investing." It was referring to Geico's President and CEO of Capital Operations, Louis Simpson. Forbes found convincing evidence for Simpson's eminence in Buffett's 1995 annual letter, which said, "[Lou's] presence on the scene assures us that Berkshire would have an extraordinary professional immediately available to handle its investments if something were to happen to [Vice Chairman Charles Munger] and me."
But Simpson recently stepped out of the line of succession. After 31 years with Geico, he left his position at the end of 2010. Simpson retired, and now is managing an investment firm, called SQ Advisors LLC, with his wife in Naples, Florida.
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