Warren Buffett's National Indemnity – the deal

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The National Indemnity deal would probably never have happened if it wasn’t for another Omahan, Charles Heider.

Charlie, who died only a two months ago (89), (leaving many tens of millions to Creighton University) was an Omaha stock broker competing with Warren in the early 1950s to persuade people to invest in shares.

Warren says he was much better at that than he was – not too difficult!  Charlie had so much respect for Warren that he was one of the first to join Warren’s investment partnerships.  As Warren was building up his investment partnership in the 1960s Charlie Hieder was well-established and well-respected in Omaha. They conversed from time to time.  One of the things they talked about was Jack Ringwalt and National Indemnity (NICO). Charlie was a director of NICO.

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