Buffett did, however, have special praise for the leadership of three CEOs whom analysts believe to be on that list: BNSF Railway's Matthew Rose; Ajit Jain, head of Berkshire's reinsurance operations; and Ted Montross, who leads of a highly regarded insurance business.
Buffett, who paid $43 billion for BNSF, also suggested he should have become a railroad investor earlier. Referring to his purchase last year of a stake in IBM, he commented: "As was the case with Coca-Cola in 1988 and the railroads in 2006, I was late to the IBM party."