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Warren Buffett on Business: Principles from the Sage of Omaha by Richard J. Connors

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A.21. 1993–2001

Berkshire acquisitions include:

  • Helzberg's Diamond Shops

  • R.C. Willey Home Furnishings

  • Star Furniture

  • Dairy Queen

  • General Reinsurance

  • NetJets

In 1995, Berkshire acquires remaining 50% of GEICO for $2.3 billion.

In 1995, Berkshire's net worth gained $5.3 billion, or 45.0%. Over the past 31 years, per-share book value has grown from $19 to $14,426, or at a rate of 23.6% compounded annually.

In 1996, Berkshire issued B shares (at one-thirtieth the price of the A shares) to discourage the formation of mutual funds for investors who could not afford the purchase of A shares.

In 2001, Berkshire incurred a $2.2 billion underwriting loss from the 9/11 attack on the World Trade Center.

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