Investment guru admits mistakes
- Buffett was candid about his failings, saying "the tennis crowd would call my mistakes 'unforced errors'.";
- "During 2008, I did some dumb things in investments," he said.
- "I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year," he added.
- Mr Buffett blamed the sub-prime mortgage debacle on salesmen, ratings agencies and investors who relied on complicated and flawed models.
- "Beware of geeks bearing formulas," he said.
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