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The Essays of Warren Buffet

Mindware

CHAPTER

How to Buy a 10% Interest in Wells Fargo

Berkshire Hathaway bought 10% of Wells Fargo in 1990 for $290 million. Warren Buffett: "We would not be able to find a Kyle Reichardt to run it" He says the bank has been more avidly recruited than any others in banking business. The company earns well over $1 billion per tax annually after expensing loan losses, he says.

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