Buffett: Buying Tesco was ‘a huge mistake'

clock

Tesco's third largest shareholder Warren Buffett has described his investment in the supermarket as a "huge mistake".

Speaking to CNBC today, the owner of Berkshire Hathaway offered little support for the beleaguered supermarket despite holding a stake in the business. "I made a mistake on Tesco. That was a huge mistake by me," Buffett (pictured) told the broadcaster. Berkshire Hathaway has owned Tesco since 2006, but bought in heavily at the start of 2012, before raising its stake further that January after the company's first profit warning in 20 years. Tesco shares have almost halved since that warning over two years ago, and are currently down 46% year-to-date following further earnings disapp...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Trustpilot