To The Moon

Warren Buffett, the investment guru, made a big mistake twice by selling off a large amount of Disney's stock, which may have cost him $20 billion. In 1966, the so-called Oracle of Omaha met Walt Disney when his animation company was valued at less than $90 million, about 0.04% of its current market value. "In Disneyland, the $17 million Caribbean Pirate amusement facility is about to open," Buffett wrote in his 1995 letter to shareholders. "Imagine my excitement, a company that only sells five times the amusement facility!" The future chairman of Berkshire Hathaway and his partners didn't hesitate to buy 5% of Disney's stock for $4 million. By 1995, the value of these stocks had doubled. However, in fact, Buffett sold these stocks one year after purchasing them, earning a relatively modes