Warren Buffett returned 6,000,000% plus for investors over 60 years. Here are his 5 biggest wins and what to learn
Munger convinced him to pay $25 million for See's Candies, a beloved California chocolate company. By the valuation methods Buffett had learned from Benjamin Graham, this was overpaying — See's wasn't cheap relative to book value. Buffett nearly killed the deal over the last $25,000. Munger told him he was "slipping back into the stone age" (6).Charlie Munger thought this was insane. Or at least severely limiting.Before See's, Buffett was a bargain hunter in the purest sense — what he called "cigar butt" in ...