A letter a day!
Letter #24 1970
This letter is all about investing into different types of bonds. While many things have changed now with respect to the taxability of bonds, anyone who wants a basic understanding of different types of bonds can read this letter. The next set of letters are focused on Berkshire Hathaway’s performance since Buffett had retired from managing public money and he promised to provide information regarding the business operations of Berkshire Hathaway till he remains invested.
So Berkshire Hathaway consisted of various business operations like textile, Banking, insurance. In this letter Buffett has made some good acquisitions. In order to fund the purchases, Buffett sold majority of marketable securities held in Berkshire Hathaway. Some of the acquisitions were of The Illinois National Bank and Trust Co. of Rockford, Illinois where he acquired about 97.7% stake.
(Next few letters will be just focusing on Berkshire Hathaway performance. Since the letters are short, will try to cover 2-3 in a post.)
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