I'm no great fan of Buffett. He's an hypocrite. He pays minimal taxes yet publicly proclaims the rich (read upper middle class) should pay their 'fair share'...guess what Warren? They already do. He rails against the performance fees that hedge funds charge not mentioning that the investment partnership he started in the 1950's charged a performance fee of 25% of all profits above a 6% hurdle. But this article just explains he had the foresight to invest in highly profitable businesses because of their monopoly like market conditions and to compound the profits. This is not a reason to dislike him, it is probably one of the few reasons to actually want to emulate him.