Nah, Warren Buffet has made lots of mistakes: shorting the dollar too soon, having to unwind a bunch of ugly reinsurance positions when he bought Gen Re, attempting to use money — instead of patient counsel, help, and example — to induce his son to lose weight, becoming a DemoRat when his father was a Republican Congressman, living in sin with a mistress for 30 odd years, etc. The mistakes just weren’t fatal.
If he’s been buying Lowe’s, now — at a P/E of 15, it’s no steal — this will be another mistake.
