Warren Buffett

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FILE - In this May 6, 2013 file photo, Berkshire Hathaway CEO and Chairman Warren Buffett speaks during an interview in Omaha, Neb. Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday, March 1, 2014. (AP Photo/Nati Harnik, File)

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FILE - In this May 6, 2013 file photo, Warren Buffett smiles during a television interview in Omaha, Neb. Buffett released a positive annual letter Saturday, March 1, 2014. He told investors in the Omaha, Neb., based conglomerate that most of Berkshire’s 80-odd subsidiaries had a good year last year. Buffett says Berkshire Hathaway shareholders should be confident in the company’s prospects, even though the firm’s results lagged behind the S&P 500 last year. (AP Photo/Nati Harnik, File)

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Warren Buffett’s Berkshire Hathaway Inc. is planning to close the 10,000-circulation Manassas (Va.) News & Messenger, which began publishing in 1869 but has been struggling to compete with other outlets in the Washington suburbs. (Associated Press)

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Warren Buffett

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** FILE ** In this March 14, 2012, file photo, Warren Buffett and Astrid M. Buffett arrive at the Booksellers area of the White House in Washington for the State Dinner hosted by President Barack Obama and first lady Michelle Obama for British Prime Minister David Cameron and his wife Samantha. (AP Photo/Charles Dharapak, File)

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Warren Buffett attends the State Dinner with President Barack Obama and British Prime Minister David Cameron at the White House in Washington, Wednesday, March 14, 2012. (AP Photo/Susan Walsh)

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Billionaire inverstor Warren Buffett chairman and CEO of Berkshire Hathaway, is interviewed by Becky Quick, co-host of CNBC's "Squawk Box," on the floor of the Omaha World-Herald's press room Monay Feb. 27, 2012, in Omaha Neb. Buffett said Monday that stocks remain relatively cheap compared to other investments as the economy continues to improve. He also said that the company he heads is prepared to replace him whenever the need arises. (AP Photo/The Omaha World-Herald, Jeff Beiermann)