Mr. Nicely of Geico comes next ("stellar, " as the 2005 letter put it), followed by Mr. Abel of MidAmerican ("terrific, " 2008), Mr. Kinstler of See's ("extraordinary, " 2007), Tom Nerney of U.S. Liability Insurance ("fabulous, " 2002) and Mr. Jain ("amazing, " 2006).

WSJ: And Warren Buffett's Successor Is...