Buffett Admits Berkshire Buy Was A Mistake

On CNBC yesterday, Warren Buffett admitted that the Berkshire Hathaway CEO never should have purchased Berkshire Hathaway. It was a terrible investment in a failing textile mill company. Fortunately for Buffett, his Berkshire Hathaway company was saved by a shrewd investment in Geico Insurance. Buffett disclosed that he should have just created a new business and started with Geico.

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5 Responses to “Buffett Admits Berkshire Buy Was A Mistake”

  1. avatar Barry H says:

    At least Buffet is willing to admit he made a mistake. I have lost track of the number of times I have seen people take bad decisions on investments just blame everything else except for their own judgment.

  2. Hats off to Mr Buffet who is humble enough to admit when he makes mistakes!

  3. I would love for my worst investment to end up making so many people rich!

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