TECH - Warren Buffett's Berkshire Hathaway Is A Turnaround Story That Defies Odds Says Expert | Benzinga
Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) has been hailed as a remarkable turnaround story by a chronicler of the company’s early days.
What Happened: The conglomerate, which now boasts a valuation approaching $1 trillion, had a humble beginning. It was formed from the remnants of three failed businesses.
Author Jacob McDonough of “Capital Allocation: The Financials of a New England Textile Mill 1955 – 1985” highlighted the origins of Berkshire Hathaway. The company was born from the ashes of Diversified Retailing, Blue Chip Stamps, and Berkshire, a textile company acquired by Buffett in 1965, reported Business Insider.
Despite the initial setbacks, Buffett and his late business partner, Charlie Munger, managed to merge the first two businesses into Berkshire in the late ...