Warren Buffett has won a reprieve on a deal that the billionaire investor only four years ago described as a “big” mistake.
Berkshire Hathaway last month disclosed that it believed the value of Precision Castparts, the aerospace parts maker Buffett bought in 2016 for $37bn, had jumped by nearly $2bn from 2023 to roughly $34bn.
That brings Buffett, the so-called Sage of Omaha, closer to break-even on a deal that forced Berkshire to take a nearly $10bn writedown in 2021.
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