Buffett’s 1951 Analysis of GEICO

Although he’s usually very open about his thoughts, its not often that you get to see a detailed investment analysis authored by Warren Buffett.  In fact, talking about the stock(s) he thinks are attractive is generally off limits when interviewing The Oracle of Omaha.  That’s why the write up below is such a gem – not only is this a pretty cool artifact of Berkshire Hathaway’s history (GEICO is one of their core businesses) – we get a detailed look at how Buffett thought about the business and why he invested.

Reading this assessment from 1951 about a company that is now an insurance powerhouse is a testament to Buffett’s strategy: find good businesses with a durable competitive advantage, good management, and buy them at a cheap price.


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