Warren Buffett’s Top Plays: #1 Berkshire Hathaway

In the early 1960s, Warren Buffett started purchasing Berkshire Hathaway, a textile company that had valuable assets. He originally planned to sell his holding back to those running the company, but after the price offer was lower than initially agreed, he got angry and kept buying shares. Eventually, 70% of the company was owned by Buffett’s company BPL, which had invested in a failing textile business. To turn the situation around, Berkshire started redirecting its cashflows into new businesses, starting with the purchase of National Indemnity in 1967. Over the years, Berkshire’s shares became more valuable and the textile business was eventually shut down in 1985. Today, a single Berkshire share costs over $300,000, making it one of the most successful investments made by Buffett.