Berkshire’s Brief Ownership Of The Illinois National Bank and Trust Co

During the mid-1960s and 1970s, Warren Buffett became a master at buying, improving, and selling businesses, generating huge returns for his investors.

Buffett started this process when he was managing his early investment partnerships.

Using what we might call an activist approach today, Buffett used his partners’ capital to buy large stakes in small companies, trading at what he believed were deeply discounted valuations, and then using this stake, he would push for change to unlock value for shareholders.

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After the investor wound up his partnerships in the late 1960s to focus on Berkshire Hathaway full-time, he continued the process of buying and building.

One...