Filed under: Berkshire Hathaway (BRK.A), Business of sports

Warren Buffett bought a prominent Massachusetts furniture company — Jordan’s Furniture — in 1999 for between $200 million and $300 million. At the beginning of the season, Jordan’s announced it would reimburse the furniture purchases of anyone who bought sofas, dining tables, beds, and mattresses there between March 7 and April 16 if the Red Sox won the World Series this year.

According to the Boston Globe, Jordan’s took almost 30,000 orders during the contest. One customer stands to get back $40,000. Jordan’s covered this bet through an insurance policy. It would not disclose which company issued the policy, but it would not shock me if it was issued by Berkshire Hathaway (NYSE: BRK.A).

As a lifelong Boston Red Sox fan, I am absolutely thrilled that they are in the World Series for the second time in a few years. And last night’s blowout victory against Colorado was a great way to start. Unfortunately, my years of being disappointed by the Red Sox are making me wary about whether they can keep pulling off wins.

Continue reading Warren Buffett shouldn’t have bet against the Red Sox

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This entry was posted on Thursday, October 25th, 2007 at 8:39 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.