LESSON 3

Consider Many, Like Some, Love Few

WARREN LOOKS at many, many deals. Some of them he likes and pursues. When he finds one he loves, he moves fast.

For several years, one of Warren’s managers, Nebraska Furniture Mart’s Irv Blumkin, had been telling him about a furniture retailing giant in Utah, RC Willey. Blumkin had also told Bill Child, CEO of RC Willey, how pleased the Blumkin family had been with its relationship with Warren.

In early 1995, Child mentioned to Blumkin that for estate tax and diversification reasons, he and the other owners of RC Willey might be interested in selling. Warren quickly switched into deal-making mode.

“From that point forward, things could not have been simpler,” wrote Warren in his 1996 letter to Berkshire ...

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