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How has a failure, or apparent failure, set you up for later success? Do you have a favourite failure?
My first mistake, of course, was in buying control of Berkshire. Though I knew its business - textile manufacturing - to be unpromising, I was enticed to buy because the price looked cheap. Stock purchases of that kind had proved reasonably rewarding in my early years, though by the time Berkshire came along in 1965 I...
Warren Buffett · read it in full
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