Common Stocks and Common Sense: The Strategies, Analyses, Decisions, and Emotions of a Particularly Successful Value Investor

by Edgar Wachenheim

I became interested in Interstate in the fall of 1985 when a friend mentioned that Howard Berkowitz purchased 12 percent of the company’s outstanding shares, became chairman of the company’s board, and hired a new CEO, who was convinced that he could materially improve the company’s profits.