Becoming Berkshire: The Crash of 1970

Issue 16 | 1970 Part 1 - Dow Jones; The Commerical Paper Crisis, Hayden, Stone & Co, Buffett Partnership

On December 26th, 1969, Buffett wrote to his partners, outlining the liquidation process and providing closing comments.

At the close of the decade, the partnership owned the following:

• “Berkshire Hathaway, which he said was worth about $45 per share. About $16 was tied up in textiles, a business that he said was not satisfactory and had an even smaller c…