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Buffett offers lessons

March 12, 2006
It's tempting to comment on Warren E. Buffett's strong new criticism of stock options.

Read Buffett, America's second-richest man (next to Microsoft's Bill Gates) and you may never vote "Yes" on a fixed-price stock option again. Especially in corporations with so-so records that reward their brass like geniuses.

Buffett's case against the options racket is no secret. As chairman of Berkshire Hathaway Inc., he issues an annual letter to shareholders that's practically unique. It's a delight to read. And instructive. There are four-year college educations that teach less.

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