Buffett devotes his precious time to reading and thinking, looking for gaps in values that others miss.

In 1999, after 34 years in business, Berkshire had a market capitalization that positioned it as the 74th largest American company.  Yet it had no Wall Street research coverage.  In 1999, Alice Schroeder, a Paine Webber research analyst, wrote the first Wall Street research report on Berkshire. 

Buffett continues to rely on his managers to run their day-to-day business operations.  he continues to devote precious time to reading and thinking.  Like a miner panning for gold, he sifts data from newspapers, annual reports, and other publications, looking for gaps in values that others miss.