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Lou Simpson, who oversees investments at Geico, insurance subsidiary of Warren Buffett's Berkshire Hathaway, is retiring at the end of the year. Simpson, who operated Geico's investment operation from Rancho Santa Fe until moving to Chicago late in his career, was an expert stock picker and at one time mentioned as a possible successor to Buffett, who shortly turns 80. Simpson is 73. Buffett earlier said Simpson was "a cinch to be invested in the Investment Hall of Fame." From 1980 to 2004, Simpson's portfolio made 20.3% a year versus the Standard & Poor's 500's average 13.5%.
Lou Simpson, who oversees investments at Geico, insurance subsidiary of Warren Buffett's Berkshire Hathaway, is retiring at the end of the year. Simpson, who operated Geico's investment operation from Rancho Santa Fe until moving to Chicago late in his career, was an expert stock picker and at one time mentioned as a possible successor to Buffett, who shortly turns 80. Simpson is 73. Buffett earlier said Simpson was "a cinch to be invested in the Investment Hall of Fame." From 1980 to 2004, Simpson's portfolio made 20.3% a year versus the Standard & Poor's 500's average 13.5%.