Warren Buffet, America’s richest investor, is known and respected for his company Berkshire Hathaways. Today, Berkshire Hathaway’s share price is one of the highest priced company shares in the world. While many investors value Berkshire Hathaway’s stock, few people realize that acquiring Bershire Hathaway was one of Warren Buffet’s biggest investment mistakes.
When he acquired the company, Bershire Hathaway was a shirt-manufacturing company that was slowly going out of business. Warren Buffet thought his team could turn the company around. Well as most of us know, textile manufacturing was dying in America and moving to other countries. It was a trend that even Warren Buffet could not go against, and the company eventually failed aws a manufacturing company, even with Warren Buffet behind it. Yet, inside of this company failure, Warren Buffet found the gems that ultimately made him extremely rich.