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By 1970, Berkshire Hathaway’s New England textile mills generated just one percent of total profits. The company kept the looms running anyway, using cash generated through depreciation to quietly finance its pivot into insurance and banking.
24:59
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When the Buffett Partnership liquidates, Warren Buffett trades redeemable capital for permanent corporate structures across three companies. This final distribution scatters his partners into separate shareholder groups just as Blue Chip Stamps quietly moves to buy See's Candy.
23:10
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In 1972, Warren Buffett nearly walked away from buying See’s Candy over five million dollars because it cost three times its tangible assets. Discover why he hesitated, how Charlie Munger recognized its untapped pricing power, and why the purchase almost didn't happen.
23:19
