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.