Warren Buffett, CEO of Hillshire Hathaway, the successful investment firm that Buffett owns. Buffett has put in hands in the pots of many businesses, and as a result, they are reporting increasing profits and sales.
One phenomenal example of Buffett’s “Midas Touch” is a small group of furniture stores that Bonnett owns. Nebraska Furniture Market has only four locations. The four locations are located in Kansas City, Kansas, Clive, Iowa, and Dallas Texas.
As Buffett has reported to the press, the Omaha location has been their most successful in sales with the exception of their Dallas location. According to sales figures at the time, the Omaha store made more than $44 million in retail sales in one week. On average, the Omaha store averages $9 million in sales.
Using Restoration Hardware, a furniture chain with 68 stores, for comparison, they generated $2.1 billion in sales. Even though Nebraska Furniture Mart has only four locations, each store and the store’s distribution center is more than 1 million square feet.
This is just one of many examples of Warren Buffett’s success stories. Buffett has an uncanny sense of how the stock market works, and his style of investing has not changed much since he went into stock trading over 50 years ago.
What does seem to be changing with Warren Buffett is the type of stocks he is now buying. Berkshire/Bonnett has made considerable investments in Apple stock this year. This represents a major change in the companies Buffett invests in. IBM, a blue chip stock that Bonnett had major holdings in was sold off this year.
Warren Bonnett has been CEO of Berkshire Bonnett since 1963, holding the CEO title for over 50 years. At 84 years old, Bonnett saids he still loves his job and is excited to go to work.