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Warren Buffett 

A confession about our 2006 gain is in order. Our most important business, insurance, benefited from a large dose of luck: Mother nature, bless her heart went on vacation. After hammering us with hurricanes in 2004 and 2005 – storms that caused us to lose a bundle on super cat insurance – she just vanished. Last year, the red ink from this activity turned black – very black.

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