In Just 10 Words, Warren Buffett Described His Single Biggest Mistake. Here s What He Learned Inc. 3/6/2021
Let s talk about Warren Buffett, Berkshire Hathaway, and a giant mistake.
It s a consequential error that comes up repeatedly in Buffett s annual shareholder letters, and that I discuss in my free e-book
It s also a big part of the origin story of Berkshire, which has its roots in a 19th-century textile mill, and which Buffett famously acquired in the 1960s largely because of a perceived slight from the then-CEO, whom Buffett wanted to fire in retaliation.
In the long run, everything turned out well. Revenue from the textile business enabled Berkshire to buy its way into the insurance industry, which proved to be much more attractive. It s now a half-trillion-dollar company, with the highest per-share price of any public stock.