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Berkshire publishes The Buffalo News and owns other businesses that manufacture or distribute products ranging from encyclopedias, home furnishings, and cleaning systems, to chocolate candies, ice cream, footwear, uniforms, and air compressors. Berkshire's most important business is insurance, carried on principally through its 100% owned subsidiary, GEICO Corporation, the seventh largest auto insurer in the United States. The growth rate in book value per share during that period is 23.8% compounded annually.īerkshire is now a holding company engaged in a variety of businesses, not including textiles. Today, its book value per share is around $20,000 and its intrinsic value far higher. Buffett took the helm of Berkshire in 1964, when its book value per share was $19.46 and its intrinsic value per share far lower.
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Buffett has applied the traditional principles as chief executive officer of Berkshire Hathaway, a company with roots in a group of textile operations begun in the early 1800s.