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Insights: Warren Buffett on When to Dump a Bad Business

October 07, 2014 00:00 AM UTC
- Updated May 06, 2020 17:15 PM UTC

The legendary investor spoke with FORTUNE October 2014.


I went in the textile business by accident in 1965, and I threw in the towel about 20 years later, and that was about 20 years too late. There's a great tendency to want to hold on, justify old decisions. I mean, that's a human trait. But when you really know you've got a bad business is when you h...

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