Louis A. Simpson could hardly have done better in terms of endorsements: He was one of Warren Buffett’s favorite fund managers.
When Mr. Simpson was in charge of investments at insurer Geico, owned by Berkshire Hathaway Inc., Mr. Buffett let him do his own thing, without supervision from Omaha. The two were so compatible that, under a 2000 emergency succession plan, Mr. Simpson would have become investment director of Berkshire Hathaway if Mr. Buffett had died while holding the reins.
