Warren Buffett releases annual letter on Friday

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Associated Press

Posted on February 28, 2013 at 11:00 AM

Updated Thursday, Feb 28 at 11:03 AM

OMAHA, Neb. (AP) — What will life be like without Warren Buffett?

Berkshire Hathaway shareholders may have gotten a glimpse into that future. Most of Berkshire's deals last year didn't directly involve the 82-year-old investor. They originated with a subsidiary of the conglomerate, or with one of the two investment managers Buffett has hired. Either way, Berkshire did well in 2012.

But Berkshire's recently announced $23.3 billion deal to buy part of H.J. Heinz highlights what shareholders will miss most about Buffett: his connections and judgment.

Buffett's annual letter to shareholders will be released Friday afternoon.

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Follow Josh Funk online at www.twitter.com/funkwrite

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