Alibaba investment is one of my biggest mistakes: Charlie Munger

Charlie Munger, the 99-year-old billionaire Vice Chairman of Berkshire Hathaway, has called his investment in Chinese e-commerce giant Alibaba one of his "biggest mistakes". "In thinking about Alibaba, I got charmed by their position in the Chinese internet," Munger said. "I never stopped to think [Alibaba] was still a retailer. It's going to be a competitive business," he added.