Monday, October 18, 2010

Buffett's $ 200 Billion Dollar Blunder

On CNBC today, Warren Buffett said Berkshire Hathaway (BRKa) was his dumbest stock purchase. He thinks it cost something like $ 200 billion so that means Buffett's collection of businesses -- with a different name, of course -- would now be worth roughly twice as much.

Basically, the money they had to put into the textile business instead of the insurance business destroyed that much value.

In the interview he provides more details. He also said:

"...incidentally, if you come back in ten years, I may have one that's even worse."  (LAUGHTER)

Check out the full interview.


Long BRKb

This site does not provide investing recommendations as that comes down to individual circumstances. Instead, it is for generalized informational, educational, and entertainment purposes. Visitors should always do their own research and consult, as needed, with a financial adviser that's familiar with the individual circumstances before making any investment decisions. Bottom line: The opinions found here should never be considered specific individualized investment advice and never a recommendation to buy or sell anything.