Being Warren Buffett is pretty awesome. He gets to drink in adulation of followers in an annual revival. The guy plays bridge with Bill Gates, for Petes sake.

Being Buffett also makes the rich man already richer. Goldman Sachs turned to Buffett for a lifeline during full-on market panic in the fall of 2008. Buffett responded by plowing $5 billion into the securities firm and transferring some of his magic patina of confidence to Goldman.

Now,...