Illinois National Bank

Issue 14| 1969- Buffett Buys a Bank

Oct 06, 2024

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Charles T. Munger, Warren Buffett's One-of-a-Kind No. 2, Dies at 99 - The New York Times

By 1969, Buffett and Munger were learning a hard truth that would shape the rest of their careers: great businesses stay great, but even venerable ones can’t escape the gravitational pull of capitalism’s creative destruction. Just three years earlier, alongside Sandy Gottesman, they had bought Baltimore’s Hochschild-Kohn for $12 million, a stately depar…

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