Welcome to episode 11, where we delve into the transformative 1967 acquisition of National Indemnity (NICO) by Berkshire Hathaway for $8.6 million. This pivotal move marked Berkshire's strategic shift from its struggling textile operations, which Warren Buffett was actively shrinking due to mounting costs and competition. The acquisition was fundamentally driven by the significant "float" NICO provided, offering Berkshire valuable, deployable capital and laying the groundwork for its future as a powerful insurance conglomerate.
https://open.substack.com/pub/theweekendinvestor/p/becoming-berkshire-1967-national?r=21sroa&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Clay Travis and Buck Sexton Show
The Clay Travis and Buck Sexton Show. Clay Travis and Buck Sexton tackle the biggest stories in news, politics and current events with intelligence and humor. From the border crisis, to the madness of cancel culture and far-left missteps, Clay and Buck guide listeners through the latest headlines and hot topics with fun and entertaining conversations and opinions.