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.

Adam

Long BRKb

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