India, Feb. 22 -- Billionaire investor Warren Buffett recalled the important role Pete Liegl played in growing the fortunes of his company Berkshire Hathaway. In his annual letter to shareholders, Buffett called Liegl "one of a kind" and said he contributed many billions to the aggregate wealth of Berkshire's shareholders.

He said he heard of Liegl in 2005 when he got to know that the latter wanted to sell his firm, recreational vehicle (RV)-manufacturer Forest River, to Berkshire. Buffett recalled that he was also told of the price Liegl expected to receive for his company. "I liked this no-nonsense approach," Buffett said.

He went on to state that he also bought real estate from Liegl after simply accepting the valuation he proposed. ...