Warren Buffett's Forecast Proved Incorrect -- and It's Cost Him $53 Billion Over the Last Year

The Oracle of Omaha has kept a great deal of Berkshire Hathaway's cash on the sidelines while the market's been roaring higher.There's no denying that Warren Buffett is one of the world's most brilliant stock pickers. The impressive gains Berkshire Hathaway (BRK.A 0.39%) (BRK.B 0.30%) continues to dish out prove as much.To say Buffett is 100% right 100% of the time, however, would be inaccurate. He gets things wrong on occasion, too. For instance, after steering food company Heinz into what turned into a di ...