Buffett admits 'dumb' mistakes in '08, Berkshire's worst year

Berkshire Hathaway (BRK.A) CEO and uber-investor Warren Buffett took responsibility for his company's worst performance since he took over 44 years ago, admitting he "did some dumb things in investments" in 2008.

The recession and financial crisis swatted Berkshire and the markets alike, Buffett wrote in his annual letter to Berkshire shareholders. "By year-end, investors of all stripes were bloodied and confused, much as if they were small birds that had strayed into a badminton game," he said.