Blue Chip Stamps

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Blue Chip and different things got diversified, retailing and so on. They all got rolled into Berkshire”

Charlie Munger's final CNBC interview | November 14, 2023

“the results we got in turning $300 million into $3 billion really quickly. What was it? Well, it was blue chips, stamps”

2020 Berkshire Hathaway Shareholder Letter

“Among the assets he distributed to partners was a major interest in Blue Chip Stamps, a company his partnership, Berkshire and I jointly controlled.”

Buffett recalls his early days as an investor | February 26, 2018

“And then in 1982 or thereabouts, whenever we merged with Blue Chip, we had a somewhat larger meeting”

Buying Apple, selling IBM, missing Google | May 8, 2017

“The three basic businesses, there are three companies came together for Berkshire, actually, diversified retailing and blue chip stamps were two others.”

Fifty years of Buffett's Berkshire | March 2, 2015

“Charlie didn't really join Berkshire until we merged in Blue Chip Stamps, which was around 1982.”

Fifty years of Buffett's Berkshire | March 2, 2015

“when we merged Blue Chip stamps, which Berkshire had an interest in, I had an interest in, Charlie had an interest in”

Wesco 2011 Annual Meeting — Notes of Charlie Munger's Remarks (The Inoculated Investor)

“He then went on to talk about Blue Chip Stamps, a "doomed" trading stamp company.”

Poor Charlie's Almanack

“Warren invested in the Blue Chip Stamp Co. and became the largest single shareholder. Charlie became the second largest shareholder, and, eventually, Berkshire Hathaway ended up acquiring the company.”

Afternoon Session - 2000 Meeting

“We had a somewhat similar thing happened with Blue Chip, actually, later on, too. Now, we would have been much better off if we hadn't bought it”

1984 Berkshire Hathaway Shareholder Letter

“Charlie and I then controlled and managed three companies, Berkshire Hathaway Inc., Diversified Retailing Company, Inc., and Blue Chip Stamps (all now merged)”

1983 Berkshire Hathaway Shareholder Letter

“Most of this growth resulted from our merger with Blue Chip Stamps, but there also was an acceleration in the pace”

1983 Berkshire Hathaway Shareholder Letter

“In 1982, Berkshire owned about 60% of Blue Chip Stamps whereas, in 1983, our ownership was 60% throughout the first six months”

1983 Berkshire Hathaway Shareholder Letter

“Blue Chip Stamps(2) ....... (1,422) 4,182 — operating earnings line item”

1983 Berkshire Hathaway Shareholder Letter

“The Blue Chip/Berkshire merger went off without a hitch. We are delighted to have the former Blue Chip shareholders join us.”

1982 Berkshire Hathaway Shareholder Letter

“insurance subsidiaries owned only $18 million in market value of equities, excluding their interest in Blue Chip Stamps.”

1982 Berkshire Hathaway Shareholder Letter

“In 1981 and 1982 Berkshire owned about 60% of Blue Chip Stamps which, in turn, owned 80% of Wesco”

Blue Chip Stamps Annual Letter 1982

“Blue Chip shareholders caused by Blue Chip's acquisition of a large interest in Mutual Savings.”

1982 Berkshire Hathaway Shareholder Letter

“Blue Chip Stamps - Parent 4,182 3,642 2,492 2,171 2,472 2,134”

1982 Berkshire Hathaway Shareholder Letter

“At Berkshire, or any company whose policies we determine (including Blue Chip and Wesco), we will issue shares only if our owners receive”

1982 Berkshire Hathaway Shareholder Letter

“If the merger with Blue Chip takes place, a probable by-product will be the attainment of a consolidated tax position that will significantly enlarge”

Blue Chip Stamps Annual Letter 1981

“At the end of 1981, the portion of Blue Chip's consolidated net worth represented by its interest in See's amounted to $38.3 million”

1981 Berkshire Hathaway Shareholder Letter

“Berkshire owns about 60% of Blue Chip Stamps which, in turn, owns 80% of Wesco Financial Corporation.”

1981 Berkshire Hathaway Shareholder Letter

“Blue Chip Stamps - Parent 3,642 7,699 2,171 4,588 2,134 3,060”

1981 Berkshire Hathaway Shareholder Letter

“The designated-contributions idea, along with many other ideas that have turned out well for us, was conceived by Charlie Munger, Vice Chairman of Berkshire and Chairman of Blue Chip.”

1980 Berkshire Hathaway Shareholder Letter

“Blue Chip Stamps, 60% owned by Berkshire Hathaway Inc., falls into this category.”

Blue Chip Stamps Annual Letter 1980

“These earnings figures are a little higher than Blue Chip Stamps' share of See's earnings shown in the table above”

1980 Berkshire Hathaway Shareholder Letter

“Berkshire owns about 60% of Blue Chip Stamps, which in turn owns 80% of Wesco Financial Corporation.”

Blue Chip Stamps Annual Letter 1980

“By the time Blue Chip Stamps purchased the News in 1977, this process, combined with a similar process”

1979 Berkshire Hathaway Shareholder Letter

“Blue Chip Stamps, our 60% owned subsidiary, is fully consolidated in Berkshire Hathaway's financial statements.”

Blue Chip Stamps Annual Letter 1979

“These earnings figures are a little higher than Blue Chip Stamps' share of See's earnings shown in the table above”

1979 Berkshire Hathaway Shareholder Letter

“Blue Chip and Wesco are public companies with reporting requirements of their own”

1978 Berkshire Hathaway Shareholder Letter

“After the merger, our ownership of Blue Chip Stamps increased to approximately 58% and, therefore, the accounts of that company must be fully consolidated”

1978 Berkshire Hathaway Shareholder Letter

“Berkshire owns close to 58% of Blue Chip which, in addition to 100% ownership of several businesses, owns 80% of Wesco”

1978 Berkshire Hathaway Shareholder Letter

“Blue Chip and Wesco are public companies with reporting requirements of their own. Later in this report we are reproducing the narrative reports”

1977 Berkshire Hathaway Shareholder Letter

“$1.43 per share resulted from substantial realized capital gains by Blue Chip Stamps which, to the extent of our proportional interest”

Blue Chip Stamps Annual Letter 1977

“Consolidated net income of Blue Chip Stamps and its subsidiaries for the calendar year 1977 amounted to $16,993,000”

1977 Berkshire Hathaway Shareholder Letter

“We again increased our equity interest in Blue Chip Stamps, and owned approximately 36 1/2% at the end of 1977. Blue Chip had a fine year”