behavioral finance theory

Wesco Financial, Charlie Munger and CORT Business Services

Wesco Financial, which was acquired by Berkshire Hathaway in 2011, is often compared to its parent company thanks to its similar model of organization. Managed by Charlie Munger from 1984 to 2011, the company originally started as a savings and loan business but grew into an insurance conglomerate with a similar mission statement to Berkshire. The core insurance business provided capital for bolt-on acquisitions and equity investments.

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