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  September 5, 2001
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Home > Company Index > Insurance > Property & Casualty Insurance > Wesco Financial Corporation

Wesco Financial Corporation
AMEX: WSC
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 PROFILE
Wesco Financial is the poor man's Berkshire Hathaway: Like Warren Buffett's Berkshire, it provides insurance (reinsurance through Wesco-Financial Insurance and bank insurance through Kansas Bankers Surety) but earns much of its money from investment activities. Chairman Charlie Munger, a confidant of Buffett's and a VC of Berkshire (which owns some 80% of Wesco) leads the company, which holds investments in many of the same firms as Berkshire Hathaway, including Coca-Cola and Gillette. The company has sold its stake in Freddie Mac. Other holdings include a steel and metal fabricator (Precision Steel), real estate (MS Property), and home and office furniture rental (CORT Business Services).

 COMPETITION
Chubb Executive Risk (dossier)
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft (MUV)
Swiss Reinsurance Company (RUKN)

 STOCK ANALYSIS
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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 1,824.00
1-Yr. Sales Growth: 1,151.0%
Employees: 2,700
Revenue per employee: $675,555.56

 KEY PEOPLE
• Charles T. Munger
    CEO
• Jeffrey L. Jacobson
    CFO

 CONTACT INFO
301 E. Colorado Blvd., Ste. 300
Pasadena, CA 91101
US
Phone: 626-585-6700
Fax: 626-449-1455

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