It is often reported that one of Berkshire Hathway's first subsidiaries was See's Candies. This is not the case. See's was one of the first businesses Warren Buffett and his right-hand man, Charlie Munger, acquired, but it was not through Berkshire.
Berkshire's oldest operating subsidiary is National Indemnity Company, an insurance company based in Omaha, Nebraska.
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Buffett acquired this business in 1967 when he was still running his investment partnerships. It formed the foundations of Berkshire we know today.
Around the same time, Buffett and Munger,...
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