What happened to Berkshire Hathaway’s 3rd partner Rick Guerin?

Many people who knows the company Berkshire Hathaway, 2 names will come in mind. Warren Buffet and Charlie Munger but did you know they had a third partner when they first started? his name was Rick Guerin.
Rick Guerin in Warrens word was a very smart man but unlike Warren and Charlie. Rick wanted to get rich quick, so he was borrowing money using margin loans to invest in the stock market. During the market crash in the 1970s Gurerin was forced to sell all of his Berkshire Hathaway stock to Buffet at 40 dollar per share so he could get money to pay back his debt.
Warren got quite a steal from this deal to acquire his share for 40 dollars per share which is now worth 200,000+ per share.
While we can't avoid mistakes entirely, we can prevent mistakes that have the potential to ruin us.This lesson teaches us that we should never invest in the stock market with borrowed money, only invest with what we can afford to lose this way we will never be forced to sell out at a loss. Just buy hold and re balance and over the years this strategy should serve you greatly your wallet will thank you in the future. Investing is a lifelong journey, not a sprint. A commitment to learning how to invest and sticking to it through thick and thin is key to the success of all investors.