Warren Buffett is one of the most successful minds in the world of stock investing and business, and one of the most amazing stories about Warren Buffett is not how he is the Oracle of Omaha, but instead how his business Berkshire Hathaway was actually founded. The business actually didn’t start as an investment firm, instead its roots date back to about 1839 as a textile company. Originally out of Valley Falls, Rhode Island the company continued to grow throughout the eighteen hundreds.
It wasn’t until 1962 that Warren Buffett begin to buy stock in the company, noticing certain patterns with the companies stock over the long term. Buffett Had originally offered to buy the company from Seabury Stanton, however he was offended when seabury offered him a much lower price per share for ownership in the company. This angered Warren so much that he ended up purchasing a majority stake in the company and firing Seabury out of spite, although in the meantime he was stuck with a flailing textile company. In a recent 2010 interview, Warren Buffett claimed that the actual business of Berkshire Hathaway was the worst investment that he had ever made.
He had stated that his returns were compounded, and that he should had invested his money directly into insurance businesses. Now Warrens main business is actually through Geico, which he is the majority owner of. Barkshire Hathaway also has the honor and distinction of being the most expensive stock on the s&p 500, which a whopping $300,000 share price. This just goes to show how mostly everything that Warren Buffett touches seems to turn to gold, although if you ask him he is just doing his job. The core principles of Berkshire Hathaway are what Warren Buffett lives by, and his investment choices are legendary.