Berkshire Hathaway is an investment company founded by Warren Buffett and is considered one of the most successful businesses in the world. It has been the cornerstone of Buffett's investment strategy for many decades, and has provided its shareholders with great returns over the years.
However, Berkshire Hathaway faced significant difficulties during the late 1960s and early 1970s. At that time, the company struggled to keep up with the changing industrial landscape, and its growth started to slow down. Buffett made a large investment in the company, but the results were not positive.
In response to this experience, Buffett decided to diversify his investments, placing less emphasis on Berkshire Hathaway and instead spreading his investments across different companies and sectors. He also looked to invest in different regions. This shift in his strategy helped him to refine his approach and ultimately led to greater success down the road.
Buffett's journey with Berkshire Hathaway has been an example of the determination and resilience he has displayed over the years. Despite facing challenges, he eventually found success, and today Berkshire Hathaway is one of the most successful and profitable companies in the world.