In the article Berkshire + Burlington, I argued that Berkshire’s (BRK.A) purchase of Burlington (BNI) was out of character and had little to do with value. It also seems clear that Burlington will raise Berkshire’s risk profile. Some people took offense on the assumption that Buffett can do no wrong.
Sadly, I’m old enough to remember Berkshire’s US Airways and Solomon investments. NetJets has been a money pit, and let’s not talk about GeneralRe. Nonetheless, I count myself among the legions of Buffett fans. Still admiration can turn to idol worship if we can’t acknowledge that Buffett is human, and thus subject to error.