Is it possible to reliably identify great managers and their companies at an early stage and enjoy compound annual returns of twenty or even thirty percent over many decades? We recently explored this subject in some detail using Berkshire Hathaway
Despite rapid advances in automobile technology in recent decades, the manner in which manufacturers distribute their products to the end customer has remained relatively unchanged for nearly one hundred years. New vehicles in the United States are almost exclusively distributed
In the spring of 1954, Bill Child was a new graduate of the University of Utah preparing to start a career as a school teacher in a rural town thirty miles north of Salt Lake City. Within weeks, he was running a small appliance business founded by his father in law, R.C. Willey, who had fallen gravely ill and died a few months later. Starting with a small family business that had revenues of $250,000, Mr. Child built an enterprise with sales of $257 million prior to selling the company to Warren Buffett’s Berkshire Hathaway forty one years later. Read this article for more details.