India, Feb. 22 -- Veteran investor Warren Buffett released his latest annual letter to shareholders. Like many of his letters before, he reflected on his time running Berkshire Hathaway.

He said he sometimes wrongly assessed the future economics of a business purchased for Berkshire. "Each a case of capital allocation gone wrong. That happens with both judgments about market equities - we view these as partial ownership of businesses - and the 100% acquisitions of companies," Buffett said.

He went on to say that he has also made mistakes in assessing the abilities of some of the managers Berkshire hired. "The fidelity disappointments can hurt beyond their financial impact, a pain that can approach that of a failed marriage," he said.

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