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Adam Mead, Author of The Complete Financial History Berkshire Hathaway

Frederik's Labyrinth

CHAPTER

How Did Buffet and Munger Study the Conglomerates?

The first sort of real conglomerate was American home products in the late 1930s. They generally started as pretty basic businesses and then kind of morphed into these sort of unruly conglomerates. These guys got in trouble in varying degrees, but ultimately they were kind of cards in a house that either came crashing down or just dismantled.

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