New Delhi, March 6 -- In 1966 Berkshire Hathaway's Warren Buffett flew down to California to meet Walt Disney, the co-founder of Disney, to discuss plans for the company which had opened its Disneyland park in the state.

Recalling the visit, Buffett said: "I went out to see Walt Disney. We sat down and he told me (about) the whole plan for the company - he couldn't have been a nicer guy." The meeting was fruitful and Buffett bought 5% of Disney for $4 million.

The ace investor explained, "The whole Walt Disney Company was selling for $80 million in 1966, debt-free. $4 million bought us 5% of the company. They spent $17 million on the Pirates [of the Caribbean] ride. Here was a company selling at less than 5x rides - and they had a lot o...