Warren Buffett
Buffett Partnership Ltd (and predecessor partnerships), 1956/57–1969 · Profile
Historical: a partial record. These are holdings named in letters, filings or reports of the time, not a full portfolio.
Before Berkshire Hathaway, Warren Buffett ran investment partnerships from Omaha. He bought cheap stocks, controlling stakes and merger 'work-outs', and wrote to his partners every year. In 1969 he closed the partnership, saying he could no longer find enough bargains, and kept Berkshire.
Known holdings
Record
- 1957–1969: the partnership compounded at 29.5% a year before the general partner's share (cumulative +2,794.9%). Limited partners compounded at 23.8% a year after the GP's allocation (+1,502.7%). The Dow (with dividends) compounded at 7.4% a year (+152.6%). (Buffett, 'The Superinvestors of Graham-and-Doddsville' (1984), Table 3. The PDF's text layer garbles the column headers; the figures were matched to columns by recomputing the compounding.)
- Early years, partnership gain vs Dow: 1957 +10.4% vs −8.4%; 1958 +40.9% vs +38.5%; 1959 +25.9% vs +19.9%; 1960 +22.8% vs −6.3%. Cumulative to 1960: +140.6% vs +42.6%. (Buffett Partnership letter dated 30 Jan 1961 (text transcription))
About
- Born 30 August 1930 in Omaha, Nebraska. (cnn.com)
- Worked as a security analyst at Benjamin Graham's Graham-Newman Corp. in New York from 1954 to 1956. (cnn.com)
- Founded the Buffett partnerships in 1956 and dissolved them in 1969. (cnn.com)
- The partnership began buying Berkshire Hathaway in early 1962 and took control in 1965. (cnbc.com)
Books and letters
- Buffett Partnership letters, 1957–1970 (compilation) Warren E. Buffett, 1957 · letters
- Buffett Partnership letter, 30 Jan 1961 (Sanborn Map) Warren E. Buffett, 1961 · letters
- The Superinvestors of Graham-and-Doddsville Warren E. Buffett, 1984 · talk
- Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters Jeremy C. Miller, 2016 · book
- Inside the Investments of Warren Buffett: Twenty Cases Yefei Lu, 2016 · book