ClaimsWarren Buffett

“I first went to Geico in 1950.”

Warren Buffett, Berkshire chairman and CEO 5 May 2024 Transcript: Berkshire's 2024 annual shareholder meeting (Steady Compounding) archived copy

Factual Their own work or organisation

Buffett first went to GEICO in 1950.

Mostly true True in substance, wrong in a detail.

Factual: Statements about the present or the past, checked against the record: did they hold up?

Said for an organisation they lead or work for; it counts on both records.

What would count as true or false

True: reliable biographical or primary sources (Buffett's own letters and records, authorised biographies, GEICO history) show that Buffett first visited GEICO in the calendar year 1950. Mostly true: his first visit fell within a few months of 1950, for example January 1951, a small slip in the date. Mostly false: his first visit was more than a year away from 1950. False: the sources show a very different year, or that he never went to GEICO.

Set before the research began.

Evidence (9)

  1. E1 Berkshire Hathaway Annual Meeting 2024 Transcript good-investing.net (third-party transcript site) Own record

    “I actually saw it with GEICO when I, I went there in 1950.”
  2. E2 Budget-conscious and Earnest Oxford Academic, Columbia Scholarship Online (Lawrence Cunningham, Berkshire Beyond Buffett) · 21 October 2014

    “Buffet decided to visit GEICO’s Washington headquarters, where he spent several hours learning about the business from GEICO senior officer Lorimer Davidson.”
  3. E3 Budget-conscious and Earnest Oxford Academic, Columbia Scholarship Online (Lawrence Cunningham, Berkshire Beyond Buffett) · 21 October 2014

    “He also bought 350 shares of GEICO stock during 1951 at a cost of $10,282, representing half his net worth.”
  4. E4 Berkshire Hathaway Annual Meeting 2024 Transcript Good Investing (transcript of the Berkshire Hathaway 2024 annual meeting) Own record

    “I actually saw it with GEICO when I, I went there in 1950.”
  5. E5 Budget-conscious and Earnest Oxford Academic (Columbia Scholarship Online), chapter 4 of Berkshire Beyond Buffett by Lawrence A. Cunningham · 21 October 2014

    “Never having heard of the company in an industry he knew nothing about, Buffet decided to visit GEICO’s Washington headquarters, where he spent several hours learning about the business from GEICO senior officer Lorimer Davidson.”
  6. E6 Budget-conscious and Earnest Oxford Academic (Columbia Scholarship Online), chapter 4 of Berkshire Beyond Buffett by Lawrence A. Cunningham · 21 October 2014

    “He also bought 350 shares of GEICO stock during 1951 at a cost of $10,282, representing half his net worth.”
  7. E7 Warren Buffett's Geico Adventure Part 1: The First Buy GuruFocus.com (Rupert Hargreaves) · 8 January 2018

    “On a Saturday in January 1951, Buffett took a train to Washington D.C. and headed for Geico's headquarters after learning Benjamin Graham was chairman of the board.”
  8. E8 Warren Buffett's Geico Adventure Part 1: The First Buy GuruFocus.com (Rupert Hargreaves) · 8 January 2018 Own record

    “Checking back, I find that I purchased GEICO shares on four occasions during 1951, the last purchase being made on September 26.”
  9. E9 GEICO at 50: The Rescue That Made Berkshire brk-b.com (unofficial fanpage) · 19 April 2026

    “On a cold Saturday in January 1951, Buffett took the train to Washington, knocked on GEICO's locked door, and was let in by a janitor.”

Reasoning

At the 2024 meeting Buffett said he went to GEICO in 1950 (E2, E6). Two independent accounts put his first visit to GEICO's Washington headquarters on a Saturday in January 1951 (E9, E11). Cunningham's chapter describes the visit without giving its date and places his share purchases in 1951 (E3, E4, E7, E8). Under the criteria, a January 1951 visit is a small slip in the date, so the claim is mostly true.

Cite this claim

Warren Buffett, “Buffett first went to GEICO in 1950.” (said 5 May 2024). Verdict: mostly true. Reliability API, claim c_ac533883af00, method 0.1.0+28da144b, dataset release v1.1.2. https://epistacklabs.com/claims/c_ac533883af00

This claim is in dataset release v1.1.2, with the same verdict.

Reply to this claim

For Warren Buffett, or someone speaking for them: a correction or counter-evidence. Replies are read before anything is shown; an approved reply shows your name, role, date, statement and link. Your email address is never shown and is deleted 30 days after the decision (privacy).

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All of them

Verdicts are made automatically; how verdicts are made.