With all of Warren Buffett’s success in building Berkshire Hathaway, you might think that he knew where he was going from the start, but that’s not the case.
“We didn’t know, twenty-five, thirty years ago, we didn’t know we would be in the insurance business,” Warren Buffett pointed out at the 1997 Berkshire Hathaway Annual Meeting. “I mean, Berkshire, we have no master plan. And Charlie and I did not sit down in 1960, early ’65, and say, ‘We’re going to do this and that,’ and all that.”
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© 2023 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.