Becoming Berkshire: 1967- National Indemnity
Issue 11| 1967 Part 2 - Berkshire Hathaway acquires National Indemnity for $8.6 million.
The Buffett Limited Partnership (“BPL”) ended in 1966 with $54,065,345 in capital.1 Berkshire Hathaway ended its 1966 fiscal year with $628,721 in cash and $7,422,000 in marketable securities.2 The Company had a market capitalization of around $20 million.3
By 1967, Buffett instructed Ken Chace to shrink the business. Alice Schroeder's book Snowball paints…
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