1min snip

Founders cover image

#88 Warren Buffett's Shareholder Letters— All of them!

Founders

NOTE

Restoration of Financial Strength: The History of a Business

The year 1966 was significant for the company as it became profitable and achieved financial strength comparable to the end of the 1960s./nThe company experienced heavy losses in 1957 and 1958 which were not fully recouped until 1959 and 1960, following which it again suffered losses for three years./nThe company's founder diversified into other profitable industries and was loyal to the businesses he owned, even if they were not performing well.

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