The Crash of 1970

Issue 16 | 1970 - Buffett winds down his partnership as Wall Street enters crisis mode

In December 1969, Warren Buffett closed the doors on his famed investment partnership and handed his partners back their capital. After a decade of spectacular returns, he saw storm clouds forming: inflated stock prices, a weakening economy, and the limits of his own opportunity set. At the same time, America was entering one of the most turbulent years…