In the early stages of his career, Warren Buffett was gifted with some fantastic opportunities. One such opportunity was National American Fire Insurance, a company that went through its ups and downs and eventually ended up in Buffett’s pocket thanks to a quirk of its ownership structure.
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The story of National American Fire goes back to 1906 when Howard Fieldstead Ahmanson, the company's founder, was born in Omaha, Nebraska. Ahmanson founded the H.F. Ahmanson company in 1927, and the firm quickly became the most significant underwriter of casualty insurance within the state (Ahmanson when to the University of Southern California).
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