Charlie Munger And A Friend Each Made $70,000 Per Year From A $1,000 Investment 60 Years Ago — Raking In Millions Together [Yahoo! Finance]
Berkshire Hathaway Inc. New (BRK.B)
Last berkshire hathaway inc. new earnings: 11/2 07:00 am
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Source: Yahoo! Finance
The story traces back to 1962 when Munger, then a real estate lawyer, struck an unlikely partnership with Al Marshall, an unemployed golfer with a keen eye for investments. Their encounter on the green led to a pivotal decision: pooling their resources to invest $1,000 each in oil royalties. Adjusting for inflation, $1,000 in 1962 is equivalent to $10,342 today. Don't Miss: Are you rich? Here's what Americans think you need to be considered wealthy. Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you Marshall, drawing from his oil industry experience, was dabbling in purchasing oil royalties at auctions. Munger recognized that Marshall's approach was flawed and saw an opportunity to leverage his legal expertise to structure a more lucrative deal. Their collaboration led to the forming of an AB trust, providing a tax shelter that has since been outlawed because of abuse. “I'm still getting $2,000 to $3,000 a month from tha
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BRK.B
Earnings
- 5/4/24 - Beat
BRK.B
Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 13F-HR/A
- 5/15/24 - Form 13F-HR/A
- BRK.B's page on the SEC website