1976: GEICO (Government Employees Insurance Company)
“Buffett began researching GEICO out of curiosity, leading to the much-cited anecdote of a young Buffett visiting GEICO’s headquarters on a Saturday morning when the premises were empty except for a janitor and an investment officer named Lorimer Davidson. Davidson later became CEO, and Buffett eventually became owner of the entire company.” — Yefei Lu
This week, our featured book is Inside the Investments of Warren Buffett: Twenty Cases, by Yefei Lu. Today, we are happy to provide an excerpt from Lu’s chapter on one of Buffett’s most famous investments: GEICO.
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