
Understanding the beauty of owning insurance companies – clients pay premiums today to possibly receive payments decades later – Warren used Berkshire Hathaway as a holding company to buy National Indemnity Company (the first of many insurance companies he would buy) and used its substantial cash flow to finance further acquisitions.
Read more: Warren Buffett: Success Story | Investopedia http://www.investopedia.com/university/warren-buffett-biography/warren-buffett-success-story.asp#ixzz4kqRqFwDq
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