The second disappointment in 2012 was my inability to make a major acquisition

from Warren Buffett – Letter To Shareholders 2012 on Rap Genius


As Berkshire Hathaway produces such large quantities of free cash flow, Warren Buffett has to put that money to work and the ideal way to put that money to work is with major acquisitions. Warren Buffett’s biggest mistakes have been mistakes of omission rather than commission because Warren Buffett is a pretty conservative and thoughtful dude when it comes to investing.

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