This Should Be Buffett's Third Largest Holding, but He Blew It
While there are many great money managers, few are as well-known and successful as Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett. Though Buffett has underperformed the benchmark S&P 500 over the past decade, he's absolutely run circles around the broad-based index over the last 55 years.
According to Berkshire Hathaway's 2019 annual shareholder letter, since 1965 the S&P 500 has returned a cool 19,784%, with Berkshire Hathaway's per-share gain coming in at 2,744,062%. Essentially, a $100 investment over those 55 years would now be worth more than $2.7 million. Buffett's buy-and-hold ethos has worked wonders for building up his net worth, as well as creating nearly $400 billion in value for Berkshire Hathaway's shareholders.
However, not every decision the Oracle of Omaha has made has worked out for him. One of the few times Buffett hasn't thought long-term has come back to bite him, big time.
Source Fool.com
