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Buffett Embarrassed by ‘Thumb-Sucking’ on Exit of Tesco Stake

Warren Buffett, the second-richest man in the world, lamented that he took too long to exit a stake in U.K. grocer Tesco Plc, and that the delay cost his Berkshire Hathaway Inc.

“An attentive investor, I’m embarrassed to report, would have sold Tesco shares earlier,” Buffett wrote in his annual letter to shareholders of Omaha, Nebraska-based Berkshire, which was published Saturday. “I made a big mistake with this investment by dawdling.”