Preferential Stock Investments - The Mistakes of a Decision

The only way Berkshire can achieve satisfactory results from its four preferred issues is to have the common stocks for the investor companies do well. Good management and at least tolerable industry conditions will be needed if that is to happen, says Buffett. The acquisition of 80% are more of a fine business with a fine management. But both opportunities are rare, particularly in a size between our present and anticipated resources. This deal was an unforced error, meaning I was neither pushed into the investment nor misled by anyone when making it.