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Warren Buffett cites 1964 Berkshire Hathaway purchase as his biggest mistake

The Motley Fool +1 ·

BRK-A Berkshire Hathaway Inc
$813595.00 -0.84%
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BRK-B -0.87%
  1. 1Former Berkshire Hathaway CEO and Chairman Warren Buffett identified his 1964 purchase of Berkshire Hathaway as his biggest mistake.
  2. 2Warren Buffett stuck with the textile business for 20 years, a decision estimated to have cost him $200 billion, which is believed to be his greatest mistake.
  3. 3Warren Buffett said that if he had started with an insurance company instead of the textile business, the value of Berkshire Hathaway would be twice as high as it is today.

So what's the key point?

Warren Buffett said that buying the textile business of Berkshire Hathaway in the past was his biggest mistake. He mentioned that if he had started with an insurance company from the beginning, the company's value would be much higher than it is now.

Source The Motley Fool +1 · View original ↗

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