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Warren Buffett, who previously acknowledged overpaying for Precision Castparts in his 2016 acquisition, is now seeing the metal-castings maker's complex components in high demand. The unit's turnaround comes roughly a decade after the deal was widely viewed as a costly misstep for Berkshire Hathaway. The development is being cited as validation of Buffett's long-term investment approach despite years of underperformance from the asset.