Buffett's 'big mistake' could turn out to be a huge success after all

Once Called A 'Big Mistake,' Warren Buffett’s Precision Castparts Acquisition Sees A $2 Billion Rebound, Narrowing Berkshire Hathaway’s Losses - Boeing (NYSE:BA)

Warren Buffett‘s Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) revealed that Precision Castparts, an aerospace parts manufacturer it acquired in 2016, has experienced close to a $2 billion increase in value. What Happened: The Oracle of Omaha had previously labeled the acquisition a “big mistake,” leading Berkshire to take approximately $10 billion writedown in 2021. Buffett admitted that he “paid too much” for the company when Berkshire acquire…

The failed investment, or ‘big mistake’ as Warren Buffett himself labeled his investment in aircraft parts manufacturer Precision Castparts, could turn out to be another success for the “Oracle of Omaha.” Buffett’s company Berkshire Hathaway announced last month that Precision Castparts, which Buffett bought in 2016 for $37 billion, had recovered by almost $2 billion compared to its 2023 valuation, to about $34 billion. That brought Buffett clos…

The aircraft parts manufacturer, which Berkshire Hathaway bought for $37 billion, is on the verge of profitability.