Buffett Stock Picker Simpson to Open His Own Firm

Louis Simpson, the investor who picked stocks on behalf of billionaire Warren Buffett’s Berkshire Hathaway Inc. for more than a decade before stepping down, is going into business for himself. The 74-year-old Illinois native is starting an investment- advisory firm with his wife Kimberly Querrey in Naples, Florida, according to documents filed Dec. 20 with the U.S. Securities and Exchange Commission. The company, SQ Advisors LLC, is preparing to manage money later this year for Simpson’s family and friends, as well as outside charities, he said in an interview. – Bloomberg