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A rogue trader, Paul Mozer, was submitting bids in extra of what was allowed by Treasury rules. When this was dropped at Gutfreund’s attention, he did not instantly droop the rogue dealer. Buffett turned chairman of Salomon till the disaster handed. He purchased a five-bedroom stucco house in Omaha, where he nonetheless lives, for $31,500. In 1958 the Buffetts’ third youngster, Peter Andrew, was born. In 1959, the corporate grew to six partnerships and Buffett met future associate Charlie Munger.

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