Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) has been hailed as a remarkable turnaround story by a chronicler of the company’s early days. What Happened: The conglomerate, which now boasts a valuation approaching $1 trillion, had a humble beginning. It was formed from the remnants of three failed businesses. Author Jacob McDonough of “Capital Allocation: The Financials of a New England Textile Mill 1955 – 1985” highlighted the origins of Berkshire Hathaway. The company was born from the ashes of Diversified Retailing, Blue Chip Stamps, and Berkshire, a textile company acquire…