Buffett before Berkshire: What his Partnership letters teach

Most people know Warren Buffett as the Oracle of Omaha, the billionaire with a knack for buying wonderful businesses at fair prices. But before Berkshire Hathaway, Buffett managed money through the Buffett Partnership Limited (BPL), a private investment partnership. His letters from that era are an unfiltered look into the making of an investment legend. What makes these early writings remarkable is not just the clarity of thought but the consistency of principles that would guide him for decades. They are personal, plainspoken, and packed with insight. In this piece, the first part of our series on Buffett's letters, we explore a few of those foundational ideas. And yes, the man was wise well before he was rich. The crowd isn't always right (1958, 1961) Buffett never shied away from swimming against the tide. In 1958, he warned about the widespread belief in the "inevitability of profits" from stock investm

This article was originally published on August 06, 2024, and last updated on April 03, 2025.