One of the companies he bought was actually Berkshire Hathaway, which he called one of his biggest mistakes. After he bought a controlling share he didn’t sell all the assets and kept the company because he didn’t want to be seen as this evil person who is making people jobless. Berkshire Hathaway wasn’t making money at the time and Warren Buffett’s managed to save the company although it did take some time he did get a lot of experience and his investing approach changed dramatically. In Buffett letters you can see that he actually looks at Berkshire Hathaway as four different companies or four different segments, this is a good way of looking at it because Berkshire Hathaway owned so many different businesses. One of the businesses is the insurance; insurance was actually a way to get capital in. Warren Buffett sells put options in theory if the market drops Buffett should be losing money but what he explained was that people would pay money to him upfront its actually kind of insurance float he can invest that money and is only if the market drops in ten to twenty years that he has to pay some of that money back and the market really has to drop for him to lose money and then he saying even if it dose that you probably have a better return holding onto the premiums his