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The Buffett Letter

Friday, 2 Mar 2007 | 6:40 AM ET

Quarterly profit at Warren Buffettâ??s Berkshire Hathaway soared 56%, driven by improved insurance results, but the Oracle of Omaha says the company benefited from a "large dose of luck." Andrew Kilpatrick, Warren Buffett biographer, discusses Berkshire's performance and Buffett's annual shareholder letter with CNBC's Becky Quick.