GEICO Corporation

Daily Journal Annual Meeting 2023 — Munger Q&A

“he made more than half of all the money he made in his life out of one stock, and that stock was GEICO, which was a great business.”

Buffett on Heinz deal: "We've got a great business" | March 4, 2013

“People are calling us up at GEICO, and we're now getting the highest closure rates. They've improved dramatically lately...Geico is shooting the lights out now. And in February, we added net, right ou”

Buffett on Heinz deal: "We've got a great business" | March 4, 2013

“if I hadn't have gone to Geico when I was 20 years old and had a fellow there explained the insurance business to me, my life would be vastly different. So I just have to, I'd have to choose Geico”

2012 Berkshire Hathaway Shareholder Letter

“On the plus side, GEICO's float will almost certainly grow.”

Morning Session - 2005 Meeting

“I've never heard Tony Nicely say anything dumb about business, ever. They just, they're wired so that they”

Wesco 2003 Annual Meeting — Notes of Charlie Munger's Remarks (Whitney Tilson)

“occasionally wrote research reports on companies like GEICO”

How Berkshire adds value to its subsidiaries

“I think that Geico has probably grown a fair amount faster as a subsidiary of Berkshire than it would have if it remained an independent company, although it was a hell of an independent company”

Buffett's advice on making big money

“When I first visited Geico in January of 1951, I subsequently went back to Columbia and I said that that rest of that year... I thought I'd discovered this wonderful thing”

Afternoon Session - 1999 Meeting

“If we're running GEICO, you know, who do we worry about? Why do we worry about them?”

Afternoon Session - 1999 Meeting

“I'm at GEICO, except I started from ground zero, but I just kept asking him questions.”

Afternoon Session - 1999 Meeting

“I spelled out a little bit in the annual report this year in talking about GEICO. We enable terrific managers”

Afternoon Session - 1998 Meeting

“The brand potential in Daico is very, very big, and we intend to push and push and push on that.”

Afternoon Session - 1998 Meeting

“Geico has possibilities through the Internet, obviously, also. But anything where you're offering a terrific deal to the consumer”

Morning Session - 1996 Meeting

“GEICO wasn't an insurance company. It was comparable to other insurance companies. It was a very different sort of business. And they were very wise, in my view”

Morning Session - 1996 Meeting

“our interest in GEICO went from 33 or so percent to 50 percent over a, oh, 15 year or so period, simply through repurchases, and we benefited significantly”

Afternoon Session - 1996 Meeting

“The biggest single thing we will do in terms of value, though, probably is Gro Geico.”

1995 Berkshire Hathaway Shareholder Letter

“Right after yearend, we completed the purchase of 100% of GEICO, the seventh largest auto insurer in the United States”

1995 Berkshire Hathaway Shareholder Letter

“By adding GEICO, we entered 1996 with a business still better in quality, much improved in its growth prospects, and doubled in size”

Afternoon Session - 1995 Meeting

“he made most of his money on a Geico, which was precisely that's. sort of business”

Morning Session - 1994 Meeting

“we bought GEICO at a time when it was losing significant money. We didn't expect it to continue to lose significant money.”

1989 Berkshire Hathaway Shareholder Letter

“large capital gains realized by GEICO and Coca-Cola. If this $212 million had been distributed”

1989 Berkshire Hathaway Shareholder Letter

“6,850,000 GEICO Corp. ............................. 45,713 1,044,625”

1988 Berkshire Hathaway Shareholder Letter

“industry conditions for Capital Cities/ABC, Inc., GEICO Corporation, and The Washington Post Company - Berkshire's three permanent investments”

1988 Berkshire Hathaway Shareholder Letter

“GEICO Corporation - permanent holdings remain unchanged. Also unchanged is our unqualified admiration of their managements”

1987 Berkshire Hathaway Shareholder Letter

“6,850,000 GEICO Corporation .................. 45,713 756,925”

1987 Berkshire Hathaway Shareholder Letter

“At our three marketable-but permanent holdings, this point is moot: With Tom Murphy and Dan Burke at Cap Cities, Bill Snyder and Lou Simpson at GEICO, and Kay Graham and Dick Simmons at The Washington”

1986 Berkshire Hathaway Shareholder Letter

“GEICO Corporation, 41% owned by Berkshire, had an outstanding year in 1986.”

1986 Berkshire Hathaway Shareholder Letter

“6,850,000 GEICO Corporation .............. 45,713 674,725”

1986 Berkshire Hathaway Shareholder Letter

“we expect to keep permanently our three primary holdings, Capital Cities/ABC, Inc., GEICO Corporation, and The Washington Post”

1985 Berkshire Hathaway Shareholder Letter

“6,850,000 GEICO Corporation ................... 45,713 595,950”

1984 Berkshire Hathaway Shareholder Letter

“6,850,000 GEICO Corporation ................... 45,713 397,300”

1983 Berkshire Hathaway Shareholder Letter

“The special GEICO distribution reported in the table arose when that company made a tender offer for a portion of its stock”

1982 Berkshire Hathaway Shareholder Letter

“we own about 35% of GEICO Corporation but, because we have assigned our voting rights, the company is treated for accounting purposes as a less-than-20% holding.”

1982 Berkshire Hathaway Shareholder Letter

“our holdings of three of these companies - GEICO, General Foods and The Washington Post”

1982 Berkshire Hathaway Shareholder Letter

“Our two largest unrealized gains are in Washington Post and GEICO, companies with which your Chairman formed his first commercial connections”

1981 Berkshire Hathaway Shareholder Letter

“In just four ownership positions in this category - GEICO Corporation, General Foods Corporation, R. J. Reynolds Industries, Inc. and The Washington Post Company”

1981 Berkshire Hathaway Shareholder Letter

“Over half of the large gain in Berkshire's net worth during 1981 resulted from the market performance of a single investment, GEICO Corporation.”

1981 Berkshire Hathaway Shareholder Letter

“7,200,000 (a) GEICO Corporation .................... 47,138 199,800”

1981 Berkshire Hathaway Shareholder Letter

“GEICO Corporation, our major non-controlled business operating in this field, is, by virtue of its extreme and improving operating efficiency, in a considerably more protected position than almost any”

1980 Berkshire Hathaway Shareholder Letter

“7,200,000 (a) GEICO Corporation ..................... 47,138 105,300”

1980 Berkshire Hathaway Shareholder Letter

“GEICO may appear to be an exception, having been turned around from the very edge of bankruptcy in 1976...managerial brilliance was needed for its resuscitation, and that Jack Byrne, upon arrival in t”

1980 Berkshire Hathaway Shareholder Letter

“GEICO, through repurchases of its own stock, has reduced the share equivalents it has outstanding from 34.2 million to 21.6 million, dramatically enhancing the interests of shareholders”

1980 Berkshire Hathaway Shareholder Letter

“we feel as comfortable with GEICO management retaining an estimated $17 million of earnings applicable to our ownership as we would if that sum were in our own hands.”

1980 Berkshire Hathaway Shareholder Letter

“our holdings cost us $47 million, with about half of this amount invested in 1976 and most of the remainder invested in 1980. At the present dividend rate, our reported earnings from GEICO amount to a”