Warren Buffett’s Confession

by Michael Covel
Daily Reckoning

Back in 1964, Buffett bought a struggling New England textile maker called Berkshire Hathaway.

At the time, it had an accounting net worth of $22 million.

After analyzing the financial statements, Buffett concluded the company was worth way more.

In explaining why he bought it, Buffett said at the time: “We bought Berkshire Hathaway at a good price.”

Continue Reading at DailyReckoning.com…