National Indemnity

Issue 11| 1967 In 1967, Warren Buffett used a struggling textile company to buy National Indemnity for $8.6 million, gaining disciplined underwriting, $19.4 million of float, and a capital engine

This is a labor of love, but each essay takes countless hours to put together. Beyond documenting the history of Berkshire Hathaway, I also read annual reports and 10-Ks, apply what I’m learning from Buffett and Munger, and occasionally share updates on the fund I manage. If you find this work valuable, please consider becoming a paid member.

1962

The $7.50 Mistake That Built Berkshire Hathaway

1963

Warren Buffett and the American Express Salad Oil Scandal

1966