HISTORY OF BUFFETT'S INVESTMENT PARTNERSHIP
- In 1956, the same year that Benjamin Graham retired, Warren Buffet started up his investment partnership, Buffett Partnership Ltd.
- By 1960, Buffett had seven partnerships operating under Buffett Partnership Ltd, namely, Buffett Associates, Buffett Fund, Dacee, Emdee, Glenoff, Mo-Buff, and Underwood.
- In 1962, Buffett merged all partnerships into one.
- In 1966, he closed the partnership to new money.
- In 1969, following his most successful year, Buffet liquidated the partnership and transferred their assets back to his limited partners (shareholders). He further recommended his partners to Bill Ruane who then founded Sequoia Fund.
THE INVESTMENT STRATEGIES OF BUFFETT'S PARTNERSHIP
Of importance to us at this stage are the investment strategies employed by Buffet in his Partnership.