Warren Buffett’s $10 Billion Mistake: Precision Castparts

Warren Buffett (R) talks with Mark Donegan, CEO of Precision Castparts, at the Precision Castparts booth in exhibit hall during the Berkshire Hathaway Annual Shareholders Meeting at the CenturyLink Center in Omaha, Nebraska, U.S. on April 30, 2016. Ryan Henriksen/File Photo/Reuters

Warren Buffett makes mistakes too.

The 90-year-old billionaire on Saturday admitted he “paid too much” when his Berkshire Hathaway Inc. spent $32.1 billion in 2016 to buy aircraft and industrial parts maker Precision Castparts Corp., its largest acquisition.