Warren Buffett still cites See's Candies as an acquisition he loves, 48 years after buying it

During Berkshire Hathaway’s 2020 annual shareholder meeting on Saturday evening, CEO Warren Buffett fielded a question about which of Berkshire’s subsidiaries have been hardest-hit by coronavirus.

But Abel did come up with an example of a Berkshire-owned business temporarily shuttered shuttered by coronavirus: See’s Candies, which Berkshire acquired in 1972 for $25 million. Buffett mentions See’s most years, in either his shareholder letters or at the annual meeting, so its small size belies the company’s personal significance to him. As Buffett told Fortune in 2012, “We have made a lot more money out of See’s than shows from the earnings of See’s, just by the fact that it’s educated me, and I’m sure it’s educated Charlie, too.”

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett: Berkshire has dumped its airline stocks, says 'world has changed' because of coronavirusBerkshire Hathaway has sold out of its entire interest in the airlines, worth at least US$4 billion. YFBuffett
Source: YahooSG - 🏆 3. / 71 Read more »

Warren Buffett: I don't know what's next for stocks, and I don't think anyone knowsWarren Buffett doesn’t know what the near future holds for the stock market as COVID-19 ravages the global health and financial landscapes. YFBuffett
Source: YahooSG - 🏆 3. / 71 Read more »