But while there is little interference from Buffett, he didn't make $50 billion by being asleep at the wheel.
As multiple interviews, stories and books show, Buffett is a voracious reader with a sharp memory who expects monthly reports on financials, profit-loss statements, balance sheets and expenditures from all his businesses. He studies all of them carefully, experts say.
"He'll tell them, 'Fire your banker because I'll be your banker,' " Miles said. "He'll tell them, 'Let me know if anything bad is happening in the business - I'll hear about the good stuff myself - and let me know right away.' "
Berkshire companies' operating officers are often compared to U.S. Supreme Court justices: They generally serve for life. The 78-year-old Buffett has been known to joke that he will retire five years after he dies.
In terms of Constellation's murky trading books, which sparked the initial fears about its liquidity, Buffett has a history of being willing to step into what he sees as temporary crisis.
In 1964, when a massive scandal provoked panic selling of American Express stock, Buffett snapped up its shares after observing that customers at a restaurant counter were still using American Express cards.
"The really good news for Baltimore residents and customers of the company is that Constellation Energy will never be sold," Miles said.
"The reason he has that policy is because he wants to attract companies that are concerned about who buys them. He doesn't want someone who is telegraphing that they are more worried about money than they are about the business."
Warren Buffett
Age: 78
Family: Married (second wife); three children
Home: Omaha, Neb.
Net worth: $50 billion, according to Forbes, which calls him America's second-wealthiest man behind Microsoft's Bill Gates
Nickname: Oracle of Omaha
Company: Berkshire Hathaway
Holdings: Companies include MidAmerican Energy Holdings Co., Dairy Queen, Fruit of the Loom and Geico
Investments: Biggest shareholder of Coca-Cola and Wells Fargo
Philanthropic activities: Has pledged most of his Berkshire Hathaway shares to the Bill & Melinda Gates Foundation and other charities
Sources: Forbes, Berkshire Hathaway, Sun research
