Becoming Berkshire · Mar 9, 2026

1976: When the Berkshire Machine Began to Work

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Issue 45| 1976 -Inside the 1976 Berkshire Hathaway Annual Report: GEICO, insurance float, and the early formation of Buffett’s compounding engine.

1976 was America’s Bicentennial year, 200 years of independence, which is a fitting topic as we are about to celebrate 250 years of independence.

1976 Bicentennial of American Independence | Smithsonian Institution

At this point, the country needed a reason to celebrate, as the last few years had not been kind. From Vietnam, Watergate, inflation, the 73–74 bear market, the oil embargo, and now “stagflation” popping up, Am…

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