I was wrong

"I was wrong." It's a simple thought that is not often expressed or felt in any area of expertise. People would much rather insist that they were actually right, try and forget about the whole thing, or even sincerely believe in whatever excuses they are giving. But not Warren Buffett. Here's what Buffett says in his latest letter to the shareholders of Berkshire Hathaway: Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Later in the same letter, he retu