Early business career Warren Buffett

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buffett s home in omaha, nebraska


in 1957, buffett operated 3 partnerships. purchased five-bedroom stucco house in omaha, still lives, $31,500. in 1958 buffetts third child, peter andrew, born. buffett operated 5 partnerships year. in 1959, company grew 6 partnerships , buffett met future partner charlie munger. 1960, buffett operated 7 partnerships. asked 1 of partners, doctor, find ten other doctors willing invest $10,000 each in partnership. eleven agreed, , buffett pooled money mere $100 original investment of own.


in 1961, buffett revealed 35% of partnership s assets invested in sanborn map company. explained sanborn stock sold $45 per share in 1958, company s investment portfolio worth $65 per share. meant sanborn s map business being valued @ minus $20. buffett purchased 23% of company s outstanding shares activist investor, obtaining seat himself on board of directors, , allied other dissatisfied shareholders control 44% of shares. avoid proxy fight, board offered repurchase shares @ fair value, paying portion of investment portfolio. 77% of outstanding shares turned in. buffett had obtained 50% return on investment in 2 years.








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