Warren Buffett’s acquisition of Berkshire Hathaway (BRK.B) (BRK.A) still stands as one of the most remarkable corporate turnarounds in American history, even with Buffett himself often calling it a mistake and his worst investment ever. In his 2024 annual letter, Buffett reflected candidly on the company’s origins, the costly missteps that shaped its early years, and the unlikely ascent that followed:
“Sixty years ago, present management took control of Berkshire. That move was a mistake – my mistake – and one that plagued us for two decades,” Buffett said.
