How Buffett Made a Bundle With 'BP-Like' Investments

Graham and Dodd Investor submits:

Forty some years ago, American Express (AXP) went through a "BP" (BP) experience, and not surprisingly, Warren Buffett turned out to be a big winner.

AmEx, unfortunately, had a warehousing operation that was basically unrelated to its main business. Unless you consider that "warehousing" was a form of verification, just as paying off travelers checks.