Buffet says spend it quick

The Arizona Republic reports that Warren Buffet has expressed a hope that his money will be spent "quickly" after his death.

In his annual letter to shareholders of his holding company, Berkshire Hathaway Inc., Buffett said his will states that the proceeds from all shares he owns at death must be used for "philanthropic purposes within 10 years after my estate is closed."

"I want the money to be spent relatively promptly by people I know to be capable, vigorous and motivated," said Buffett, 76. "These managerial attributes sometimes wane as institutions, particularly those that are exempt from market forces, age."

I have always thought that the pinnacle of human achievement was not simply the acquisition of political power and wealth, but rather the ability to changes things for the better. I can think of no greater role model than Warren Buffet in that respect.