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Showing posts with the label Warren Buffett

why Frank Whittle and the Saville row tailor have more in common with Warren Buffet

A few days ago Betsy Schiffman , a contributor on property in forbes magazine wrote the following piece below But just a few days earlier, in an announcement that garnered far less press, Buffet laid down more cash in his apparent effort to build the largest collection of high-end real estate agencies in the country. HomeServices of America , a Berkshire-owned real estate brokerage, gobbled up another office — Dallas, Texas-based Allie Beth Allman & Associates — bringing the company’s total number of agents up to 26,550 in 480 offices in 27 states. Allie Beth Allman & Associates closed nearly 2,100 units and $1.5 billion in 2014 volume. The terms of the deal were not disclosed, but we have to assume it wasn’t too pricey because it wasn’t considered a material acquisition. Clearly, this is more than a passing fancy for Buffett. When Berkshire first began collecting real estate brokerages 15 years ago, it seemed like a cute hobby. The company acquired MidAmeri...