Billionaire investorWarren Buffettsaid Saturday that hewants to step backAs managing director of Berkshire Hathaway End of the year. The revelationWas a surpriseBecause the 94-year-old had previously said he had not planned to retire.
Buffett, one of theThe richest people in the worldAnd most of the experienced investors took control of Berkshire Hathaway in 1965 when it was a textile manufacturer. He transformed the company into a conglomerate by finding other companies and shares for sale that were worth less than they were worth.
His success made him a Wall Street icon. It also brought him the nickname “oracle von Omaha ”, an indication of the city of Nebraska, in which Buffett was born and decided to live and work.
Here are some of its best and worst investments over the years:
Buffett is the best
– National compensation and National Fire & Marine: The company was bought in 1967 and was one of Buffett’s first insurance investments. Insurance Float – The Premium money insurers can be bought between the time when the guidelines are bought and raised in the event of claims, the capital of many of the investments of Berkshire have made available over the years and recharge their growth. The insurance department of Berkshire has included Geico, General Reinsurance and several other insurers. At the end of the first quarter, the swimmer was $ 173 billion.
– Purchase of stock blocks in American ExpressPresentCoca-Cola Co.And Bank of America In times when the companies were out of favor due to scandals or market conditions. Overall, the shares are more than 100 billion US dollars more than what Buffett paid for them, and that does not count all dividends that he has collected over the years.
-Aplle: Buffett Long said he did not understand tech companies well enough to appreciate them and choose the long-term winners, but he started buyingApple shares2016. He later explained that he bought more than 31 billion US dollars worth more than 31 billion US dollars because he understood the iPhone manufacturer as an extremely loyal customer as consumer goods company. The value of his investment rose to more than 174 billion US dollars before Buffett started selling Berkshire Hathaway’s shares.
. Byd Founder Wang Chanfu in 2008 with an investment of 232 million US dollars in theChinese electric vehicleManufacturer. The value of this share rose to more than 9 billion US dollars before Buffett started selling it. The remaining proportion of Berkshire is still worth around 1.8 billion US dollars.
– See’s Candy: Buffett repeatedly pointed out his purchase from 1972 as a turning point in his career. Buffett said Munger persuaded him that it makes sense to buy great companies at good prices as long as they had permanent competitive advantages. Previously, Buffett had mainly invested in quality as long as it sold it as less than he thought it was worth. Berkshire paid 25 million US dollars for lakes and recorded the profit of 1.65 billion US dollars from the confectionery company until 2011. The amount continued to grow, but Buffett did not routinely emphasized it.
– Berkshire Hathaway Energy: Berkshire offer a large and steady stream of profits. The conglomerate paid $ 2.1 billion in 2000 or about $ 35.05 per share for Midamerican Energy in the Moines. The supply unit was then renamed and made several acquisitions, including Pacificorp and NV Energy. The supply companies have berkshires profit in 2024 more than 3.7 billion USIn connection with forest fires.
Buffett is the worst
– Berkshire Hathaway: Buffett had said that his investment in the textile mills of Berkshire Hathaway was probably his worst investment ever. The textile company, which he took over in 1965, flooded money for many years before Buffett finally closed it in 1985, although Berkshire provided some of Buffett’s early acquisitions. Of course, the Berkshire -shares Buffett for 7 USD and 8 USD per share in 1962 are now a value of $ 809,350 per share, so that even buffets was the worst investment.
– Dexter Shoe Co. According to Buffett, he essentially gave 1.6% of Berkshire for a worthless business.
– missed possibilities. Buffett said that some of his worst mistakes over the years have been the investments and offers that he did not make. Berkshire could easily have earned billions if Buffett had probably invested AmazonPresent Google or Microsoft early. But it wasn’t just Tech companies that he had missed. Buffett told the shareholders that he was caught to suck his thumb when he did not enforce a plan for buying 100 million to buy 100 million Walmart Shares that would be worth almost 10 billion US dollars today.
– Sell banks too early. Shortly before the Covid pandemic, Buffett seemed to be too acidic most of his bank stocks. Repeated scandals with Wells Fargo gave him a reason to unload his 500 million shares, many of them for around 30 US dollars per share. But he also sold his JP Morgan share at prices of less than 100 US dollars. Both stocks have more than doubled since then.
-Blue Chip Stamps: Buffett and Munger, former deputy chairman of Berkshire, took control of Blue Chip in 1970 when the Customer Rewards program generated 126 million US dollars for sales. However, since the trading marks fell out of favor with retailers and consumers, sales decreased steadily. In 2006 they only took 25,920 US dollars. However, Buffett and Munger used the Float that Blue Chip created to acquire the cast parts from See See Bonbon, Wesco Financial and Precision, which are all constant participants in Berkshire.
This story was originally on Fortune.com