Business
3 key takeaways from Warren Buffett’s latest letter to shareholders
Warren Buffett has just released his eagerly anticipated letter to Berkshire Hathaway shareholders. As always, the letter was filled with a number of investment gems and lessons.
Three key takeaways from the letter this year are summarised below:
Own and then learn from your mistakes
Even the Oracle of Omaha makes investment mistakes. When this happens, he owns the mistake and tries to learn from it. In this year’s letter, the 2016 acquisition of Precision Castparts was labelled a “a big one.”
“The final component in our GAAP figure – that ugly $11 billion write-down – is almost entirely the quantification of a mistake I made in 2016. That year, Berkshire purchased Precision Castparts (“PCC”), and I paid too…
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