In 1957, Warren purchases his first and only residence on Farnam Street for $31,500.
Warren's third child, Peter, is born in 1958.
In 1959, Warren and Charlie Munger meet and become lifelong friends and partners.
Buffett sets up several investment partnerships, which are merged into one in 1961.
At the beginning of 1962, the partnership had 90 partners and $7.2 million in assets, with $1 million owned by Buffett.
In 1962, the Buffett Partnership began purchasing Berkshire Hathaway at $7.60 per share and shortly thereafter becomes the largest shareholder.
At the end of 1965, the partnership has $44 million of assets, with $6.8 million owned by Buffett. Two years later, the partnership has $65 million of assets, with $10 million owned by Buffett.
In 1967, Berkshire acquires National Indemnity.
One investment alone, American Express, returns a gain of $20 million after being purchased at very depressed levels resulting from a salad oil scandal.
In 1969, Warren closes the partnership, now worth $100 million, with his share being $25 million.
The Buffett partnership liquidates. Among the assets distributed are Berkshire Hathaway shares.
For the period of 1957–1968, the Buffett Partnership, LTD had an average annual return of 31.6%.