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Bloomberg reports that Warren Buffett, in his annual letter to shareholders in Berkshire Hathaway, apologized for keeping the company's investment in Tesco for too long, saying that "an attentive investor ... would have sold Tesco shares earlier. I made a big mistake with this investment by dawdling." Buffett added, "“My leisurely pace in making sales would prove expensive."

Buffett continued: "During 2014, Tesco’s problems worsened by the month. The company’s market share fell, its margins contracted and accounting problems surfaced. In the world of business, bad news often surfaces serially: You see a cockroach in your kitchen; as the days go by, you meet his relatives.”
KC's View:
Wow. Cockroaches. Helluva metaphor to use for a company in which one has invested.

To be fair, Buffett made the same mistake that a lot of people made - thinking that Tesco, after so many years of success, simply was incapable of not finding a way out of its problems. What was unclear at the beginning, but became clear as time went on, was that the culture there was more toxic than many people realized.