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Warren Buffett Timeline

Warren Buffett Timeline, Great Value Investor, Chairman of Berkshire Hathaway.

Wednesday, July 11, 2007

2007: (76 Years old) Buffett looking for a younger successor or perhaps successors to run his investment business.

In a letter to shareholders, Buffett announced that he was looking for a younger successor or perhaps successors to run his investment business.Buffett had previously selected Lou Simpson, who runs investments at Geico, to fill that role. However, Simpson is only six years younger than Buffett.
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2006: (75 years old) give away more than 80%, or about $37 billion, of his $44 billion fortune to five foundations.

Buffett announced in June that he would give away more than 80%, or about $37 billion, of his $44 billion fortune to five foundations in annual gifts of stock, starting in July 2006. The largest contribution will go to the Bill and Melinda Gates Foundation.

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2002: (72 years old) Buffett entered in $11 billion worth of forward contracts to deliver US dollars against other currencies.

By April 2006, his total gain on these contracts was over $2 billion.

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1988: (58 years old) Buffett began buying stock in Coca-Cola Company, eventually purchasing up to 7 percent of the company for $1.02 billion.

It would turn out to be one of Berkshire's most lucrative investments, and one which it still holds.
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Tuesday, July 10, 2007

Buffett begins buying stock in Coca-Cola, eventually purchasing up to 7 percent of the company for $1.02 billion.


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1986: Berkshire breaks $3,000 per share.


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1985: Buffett purchases Scott &amp

It costs around $315 million, and boasts such products
as Kirby vacuums and the World Book Encyclopedia.
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1987: In the immediate crash and aftermath of October, Berkshire loses 25% of its value.

Dropping from $4,230 per share to around $3,170. The
day of the crash, Buffett loses $342 million personally.
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1986: Berkshire breaks $3,000 per share.


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1985: Buffett purchases Scott & Fetzer for Berkshire's collection of businesses.

It costs around $315 million, and boasts such products
as Kirby vacuums and the World Book Encyclopedia.
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1985: Warren helps orchestrate the merger between ABC and Cap Cities.

He is forced to leave the Board of the Washington Post [Federal legislation prohibited him sitting on the Boards of both Capital Cities and Kay Graham's Washington Post.

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Sunday, July 8, 2007

1985: Buffett finally shuts down the Berkshire textile mills after years of sustaining it. He refuses to allow it to drain capital from shareholders.

1983: Buffett purchases Nebraska Furniture Mart for $60 million. It turns out to be one of his best investments yet.

1983: Berkshire ends the year with $1.3 billion in its corporate stock portfolio.

1981: Munger and Buffett create the Berkshire Charitable Contribution plan, allowing each shareholder to donate some of the company's profits to his or her personal charities.

1979: Berkshire began the year trading at $775 per share, and ended at $1,310.

Buffett's net worth reached $620 million, placing him on the Forbes 400 for the first time.


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1979: (49 years old) Berkshire begins to acquire stock in ABC.

1979: Berkshire trades at $290 per share. Warren's personal fortune is approximately $140 million.

But he was living solely on a salary of $50,000 per year.


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1978: Susie introduces Warren to Astrid, who eventually moves in with him.

1977: Susie leaves Warren, although not officially divorcing him. Warren is crushed.

1977: Berkshire indirectly purchases the Buffalo Evening News for $32.5 million.

He would later be brought up on antitrust charges by a competing paper.


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1974: The SEC opens a formal investigation into Warren Buffett and one of Berkshire's mergers. Nothing ever comes of it.

1974: Due to falling stock prices, the value of Berkshire's stock portfolio began to fall. Warren's personal wealth was cut by over 50%.

1974: Due to falling stock prices, the value of Berkshire's stock
portfolio began to fall. Warren's personal wealth was cut by over 50%.


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1973: (43 years old) Berkshire began to acquire stock in the Washington Post Company.

Berkshire began to acquire stock in the Washington Post Company. Buffett became close friends with Katharine Graham, who controlled the company and its flagship newspaper, and became a member of its board of directors.


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1973: Berkshire begins to acquire stock in the Washington Post Company.

1973: Stock prices begin to drop; Warren is euphoric. At his direction, Berkshire issues notes at 8%.

1971: Warren [at his wife's request], purchases a $150,000 summer home at Laguna Beach.

1970: (40 years old) As chairman of Berkshire Hathaway, began writing his now-famous annual letters to shareholders.

1970: Berkshire makes $45,000 from textile operations, and $4.7 million in insurance, banking, and investments.

Warren's side investments are making more than the actual company itself.


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1970: Warren now owns 29% of the stock outstanding in Berkshire Hathaway. He names himself chairman and begins writing the annual letter to shareholders.

The Buffett Partnership is now completely dissolved and divested
of its assets. Warren now owns 29% of the stock outstanding in
Berkshire Hathaway. He names himself chairman and begins writing the
annual letter to shareholders.


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1969: (39 years old) Buffett liquidated the partnership and transferred their assets to his partners.

Following his most successful year, Buffett liquidated the
partnership and transferred their assets to his partners. Among the
assets paid out were shares of Berkshire Hathaway.




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1969: Buffett created Berkshire Hathaway, after shutting down his 13-year-long partnership with a select group of seven recruited investors.

1967: Berkshire Hathaway acquires National Indemnity insurance at Buffett's direction.

It pays $8.6 million.


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1967: American Express hits over $180 per share, making the partnership $20 million in profit on a $13 million investment.

Making the partnership $20 million in profit on a $13 million investment.


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1967: Buffett is worth, personally, more than $10 million.

He briefly considers leaving investing and pursuing other interests.


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1967: His partnership is now worth $65 million.

In October, Warren writes to his partners and tells them he finds
no bargains in the roaring stock market of the '60s. His partnership is
now worth $65 million.


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1967: Berkshire pays out its first and only dividend of 10 cents.

1966: Warren's personal investment in the partnership reaches $6,849,936.

1965: Buffett arranges a business coup - taking control of Berkshire Hathaway at the board meeting and naming a new President, Ken Chace, to run the company.

1965: The American Express shares which were purchased shortly before are selling for more than double the price Warren paid for the them.

1965: Buffett begins to purchase shares in Walt Disney Co. after meeting with Walt personally. Warren invested $4 million (~ 5% of the company).

1965: Warren's father, Howard, dies.

1964: Due to a fraud scandal, American Express shares fall to $35. While the world is selling the stock, Buffett begins to buy shares en masse.

1963: The Buffett partnerships becomes the largest shareholder of Berkshire Hathaway.

1963: Buffett sells Dempster for 3x the amount he invested.

Buffett sells Dempster for 3x the amount he invested [The almost
worthless company had built a portfolio of stocks worth over $2 million
alone during the time of Buffett's investment].


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1962: Warren discovers a textile manufacturing firm, Berkshire Hathaway, that is selling for under $8 per share. He begins to buy the stock.

1962: Buffett consults Munger on Dempster, the windmill manufacturing company.

Munger recommends Harry Bottle to Warren; a move that would
turn out to be very profitable. Bottle cut costs, laid off workers, and
caused the company to generate cash.

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1962: The Buffett Partnership, which had begun with $105,000, was now worth $7.2 million.

Warren and Susie personally own over $1 million of
the assets. Buffett merges all of the partnerships into one entity
known simply as Buffett Partnerships, Ltd. The operations are moved to
Kiewit plaza, a functional but less-than-grand office, where they
remain to this day. The minimum investment is raised from $25,000 to
$100,000.

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1962: Buffett merges all partnerships into one partnership.

1962: (32 years old)


  • Buffett's partnerships, in January 1962, had in excess of $7,178,500 of which over $1,025,000 belonged to Buffett.
  • Buffett merges all partnerships into one partnership.
  • Buffett discovered a textile manufacturing firm, Berkshire
    Hathaway. Buffett's partnerships began purchasing shares at $7.60 per
    share.
  • Buffett returns to New York with Susie for a few weeks to raise
    capital from his old acquaintances. During the trip, he picks up a few
    partners and several hundred thousand dollars.

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1961: (31 years old) Buffett made his first $1 million dollar investment in a windmill manufacturing company.

1961: (31 years old)


  • Buffett had seven partnerships operating the entire year.
  • The partnerships were: Buffett Associates, Buffett Fund, Dacee, Emdee, Glenoff, Mo-Buff, and Underwood.
  • Buffett revealed that Sanborn Map Company accounted for 35% of the partnerships' assets.
  • Buffett explained that in 1958, Sanborn sold at $45 per share when
    the value of the Sanborn investment portfolio was $65 per share. This
    meant buyers valued Sanborn at "minus $20" per share, and buyers were
    unwilling to pay more than 70 cents on the dollar for an investment
    portfolio with a map business thrown in for nothing.
  • Buffett reveals that he earned a spot on the board of Sanborn.
  • Buffett made his first $1 million dollar investment in a windmill manufacturing company.
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1960: (30 years old) Buffett asks one of his partners, a doctor, to find ten other doctors who will be willing to invest $10,000.

1960: (30 years old)


  • Buffett had seven partnerships operating the entire year.
  • Buffett asks one of his partners, a doctor, to find ten other
    doctors who will be willing to invest $10,000 each into his
    partnership. Eventually, eleven doctors agreed to invest.



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1959: (29 years old) Buffett had six partnerships operating the entire year.

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1959: Warren is introduced to Charlie Munger, who will eventually become the Vice Chairman of Berkshire Hathaway.

Warren is introduced to Charlie Munger, who will eventually
become the Vice Chairman of Berkshire Hathaway, and an integral part of
the company's success. The two get along immediately.

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1958: (28 years old) Buffett had five partnerships operating the entire year.


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1958: The third year of the partnership completed, Buffett doubles the partner's money.

 
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1957: With Susan about to have her third child.

1957: With Susan about to have her third child, Warren purchases a five-bedroom, stucco house on Farnam street. It cost $31,500. 
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1957: Adds two more partnerships to his collection.

He is now managing five investment partnerships from his home.
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1956 : Established Buffett Associates, Ltd., his first investment partnership.

Buffett established Buffett Associates, Ltd., his first investment partnership, in 1956. It was financed by $100 from Buffett, the general partner, and $105,000 from seven limited partners consisting of Buffett's family and friends.

Buffett created several additional partnerships which were later consolidated as Buffett Partnership Limited. He ran the partnerships out of his bedroom, adhering closely to Graham's investment approach and compensation structure. These investments made in excess of 30% compounded annually between 1956 to 1969, in a market where 7% to 11% was the norm.
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1951 : obtained a Master's degree in economics

He obtained a Master's degree in economics in 1951 at Columbia Business School, studying under Benjamin Graham, alongside other future value investors including Walter Schloss and Irving Kahn. Another influence on Buffett's investment philosophy was the well known investor and writer Philip Fisher. After receiving the only A+ Benjamin Graham ever handed out to a student in his security analysis class, Buffett wanted to work at Graham-Newman but was initially turned down. He went to work at his father's brokerage as a salesman until Graham offered him a position in 1954. Buffett returned to Omaha two years later, when Graham retired.
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1947 : graduated from Washington, DC's Woodrow Wilson High School.

Following his graduation from Washington, DC's Woodrow Wilson High School in 1947, Warren attended the prestigious Wharton School at the University of Pennsylvania for three years, then transferred to the University of Nebraska. There he began his interest in investing after reading Benjamin Graham's The Intelligent Investor.
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1930 :Warren Buffett born August 30, 1930, Omaha, Nebraska

Warren Buffett was born in Omaha, Nebraska to Howard Buffett, a stock broker and United States Representative, and his wife Leila Buffett. Warren Buffett displayed an extremely keen understanding of business and mathematics at a young age, easily doing complex mathematical computations in his head. He was also known as a book worm who displayed an insatiable hunger for knowledge pertaining to business and capital markets. He began working at his father's brokerage at the age of 11, and that same year made his first stock purchase, buying Cities Services shares for $38.25 each. He sold them when the price reached $40, only to see them rocket to $200 a few years later. This taught him the importance of investing in good companies for the long term. At the age of 14, he and a fellow high school student began installing pinball machines in barber shops, and he eventually spent his take of $1,200 to buy 40 acres of farmland which he then rented to tenant farmers. Although he excelled as a student, he felt college would be a waste given his success as an entrepreneur. He had already had money coming in from Wilson Coin Op, a pinball machine company he had started with a friend, as well as passive income streams coming from a farmer paying rent to him for the use of his farm, and he had saved $5,000 graduating near the top 20 in his class at the age of 16. He eventually yielded to his father's advice and attended college.
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