A few things got lost in the avalanche of coverage about the world's second richest man giving most of his fortune to the world's richest man. Although hailed as unprecedented, brilliant, innovative, etc. etc., the deal has all the markings of a handshake on the 5th green after successful completion of a particularly troublesome up and down.

Let me state unequivocally before I leave the impression of the grinch who ate the charitable impulse that I think what Buffett has done is a good thing; better than, say, building a $37-billion house in Omaha. It's just a shame Buffett made the announcement as if he was striking up a distribution deal for widgets. We learned from the announcement that Buffett cares about three things: 1] Keeping his children's paws off the vast majority of his dough; 2] Getting the vast majority of his dough out the door more quickly than any philanthropist in history; 3] His friendship with Bill Gates.

We didn't learn if any of the areas in which the Gates Foundation funds are of any interest to Buffett. "I trust Bill Gates not to blow it" makes for an odd philanthropic strategy.