* Buffett faces global media at end of shareholder weekend
* Believes Sokol affair hasn't changed his reputation
* Says would be self-defeating to buy back shares
By Ben Berkowitz
OMAHA, Neb., May 1 Warren Buffett still
believes his reputation is intact after his former top
lieutenant David Sokol pitched for a takeover of Lubrizol Corp
LZ.N after Sokol had purchased shares in the chemicals
"Everything I do is out there for the people to judge,"
Buffett said during his company's annual shareholder meeting on
"I don't hold myself to a standard of perfection or I'd
have committed suicide a long time ago."
He said that with 260,000 people working for his company,
Berkshire Hathaway Inc, something is going to go wrong.
Buffett, the "Oracle of Omaha" and one of the world's
richest men, attracts about 40,000 people a year to the city
for the annual meeting of his ice-cream-to-insurance
conglomerate Berkshire Hathaway Inc (BRKa.N).
This weekend he was under the microscope, facing global
media as well as shareholders, regarding the Sokol incident.
And yet, Buffett's feelings toward Sokol are neither
protective, nor violent.
"I know what's happened and perhaps investigative
authorities will develop it more fully over time," he said.
In more than five hours of questioning from shareholders on
Saturday, Buffett gave his most public comments yet on the
resignation of Sokol, his one-time presumed successor who
resigned in March amid a growing scandal over stock trading.
Buffett called Sokol's behavior -- allegedly misleading
Berkshire about the nature of a $10 million investment in
Lubrizol Corp LZ.N before suggesting Buffett buy the company
-- "inexplicable and inexcusable."
Sokol's lawyer slammed Buffett in a statement for making
his client a scapegoat.[ID:nN30135520]
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Buffett also addressed a share buy back program and said it
would be self-defeating to buy back shares. He said he would
buy back stock if Berkshire were well below the bottom range of
(Reporting by Ben Berkowitz in Omaha, writing by Jennifer Saba
in New York; Editing by Bernard Orr)