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REFRESH: Warren Buffett & Charlie Munger: Taking the High Road (part 2)

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The Importance of Learning From Your Worst Trade

The dumbest stock I ever bought was drum roll here Berkshire Hathaway. The truth is, I had now committed a major amount of money to a terrible business. If instead of putting that money into the textile business originally, we just started out with the insurance company. Sometimes it's the mistakes you make along the way that you really learn the most from.

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