Buffett has called it a big mistake. Berkshire Hathaway was run with almost zero capital investment, and instead of modernizing factories they just shut them do

Buffett has called it a big mistake. Berkshire Hathaway was run with almost zero capital investment, and instead of modernizing factories they just shut them down. The success came once they were finally out of the suit lining business (what BH actually did) and into the holding company business. I think it probably influenced his thinking, and putting more emphasis on known brands. Berkshire Hathaway made suit linings, a commodity, and were not a known consumer brand. After BH, he made investments in See's Candies, Coca Cola, national or global name brands that have a hold on their market - a "moat" as he calls it.