Buffett's 'Foolish Deal' Built a Trillion-Dollar Empire: A Lesson in Investing

• Warren Buffett called his Berkshire Hathaway investment his 'most foolish deal' despite its current trillion-dollar value.
• He initially bought shares of the struggling textile company in 1962 for a quick profit from buybacks.
• An emotional decision in 1964, after a broken promise on share price, led him to buy more shares and take control.
• Buffett spent nearly 20 years trying to fix the textile business, which continuously incurred losses.
• The key lesson: the mistake wasn't buying the stock, but staying in a bad business too long, leading him to focus on strong businesses.

Why It Matters: Buffett's 'foolish' emotional investment in Berkshire Hathaway taught him to avoid bad businesses.