Betting the Drugstore on Berkshire

Driving to Omaha from Kansas City recently was a poignant reminder of the natural resources and enterprise that form the basis for the prosperity the US has achieved. The highlight was stopping en route at the aptly named Stoner Drug Store in Hamburg, Iowa. Founded by Crosby Stoner in 1896, it is now a small chain of drugstores spread across the region. We sat at the soda fountain of this classic American drugstore and chatted to one of the pharmacists. Having told him we were heading to Omaha for the Berkshire Hathaway annual meeting he mentioned that their employee profit sharing fund had been invested with Warren Buffett and his team for a long time.

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