In 1967, Warren Buffett "got lucky." The young investor, who had just taken over the struggling textile concern Berkshire Hathaway after falling out with its previous management, was offered an opportunity he couldn't resist.
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Jack Ringwalt, the founder of the National Indemnity Company, was in the mood to sell his business, and Buffett jumped at the chance.
Today, National Indemnity is one of Berkshire's core operating businesses, and this small Omaha insurer has grown...
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