"It's good to learn from your mistakes. It's better to learn from other people's mistakes." - Warren Buffett
"I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn." - Charlie Munger
Buffett acquired Berkshire Hathaway Inc. in 1965. It was a sick textile company. He turned it into a self-sustaining machine that generates massive returns for its Owners.
The book has 38 stories of companies. In them, Buffett made many types of mistakes that investors face. The book starts with the acquisition of Berkshire Hathaway. It goes up to recently in 2023, Taiwan Semiconductor Manufacturing Company Ltd. (TSMC).
The book is divided into three parts -
Part-A: Mistakes of Commission
The commission mistakes are typical to any investors, including Buffett. These are due to biases, evaluation of the company's economic outcome, competitive strength, how to think about the market price movement, and much more.
Part-B: Failed to Capitalize in 2008 Crash
2008 US market scenario was comparable to the 1929 depression. This was the time the market was giving exceptional opportunities to invest. Buffett's inappropriate capital allocation cost more to Berkshire.
Part-C: Error of Omissions: "Thumb Sucking"
The error of omission is not recorded in Berkshire's net worth. Buffett and Munger both regret often the habit of thumb-sucking. These opportunities include companies like Amazon, Google, and many more. The book presents you with what was going in Buffett's mind when missed these opportunities and the lessons to be learned from them.
These stories help you as an investor to get exposure to different situations where mistakes are possible. Also, these companies are from various industries and operate in the global market.
The lessons would help you in the following themes -
These 38 stories would help you to maximize the returns in your investment game. These stories are short and fun to read.
The author wrote the entire book to help you become a better investor. The lessons would help you guard against your own emotional biases. They are things you will face on your journey towards a wealthy life. These lessons unleash your potential and help you to achieve your dreams.
So, take your first step to learn none other than Buffett. Load your toolkit with his strategies to become a wizard of the stock market. Get the most profits at each stage of your investment journey.
"I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn." - Charlie Munger
Buffett acquired Berkshire Hathaway Inc. in 1965. It was a sick textile company. He turned it into a self-sustaining machine that generates massive returns for its Owners.
The book has 38 stories of companies. In them, Buffett made many types of mistakes that investors face. The book starts with the acquisition of Berkshire Hathaway. It goes up to recently in 2023, Taiwan Semiconductor Manufacturing Company Ltd. (TSMC).
The book is divided into three parts -
Part-A: Mistakes of Commission
The commission mistakes are typical to any investors, including Buffett. These are due to biases, evaluation of the company's economic outcome, competitive strength, how to think about the market price movement, and much more.
Part-B: Failed to Capitalize in 2008 Crash
2008 US market scenario was comparable to the 1929 depression. This was the time the market was giving exceptional opportunities to invest. Buffett's inappropriate capital allocation cost more to Berkshire.
Part-C: Error of Omissions: "Thumb Sucking"
The error of omission is not recorded in Berkshire's net worth. Buffett and Munger both regret often the habit of thumb-sucking. These opportunities include companies like Amazon, Google, and many more. The book presents you with what was going in Buffett's mind when missed these opportunities and the lessons to be learned from them.
These stories help you as an investor to get exposure to different situations where mistakes are possible. Also, these companies are from various industries and operate in the global market.
The lessons would help you in the following themes -
- Investment Framework and Processes
- Investment Strategies
- Risk Management
- Capital Allocation
- Valuation
- Smart Diversification
- Decision Making
These 38 stories would help you to maximize the returns in your investment game. These stories are short and fun to read.
The author wrote the entire book to help you become a better investor. The lessons would help you guard against your own emotional biases. They are things you will face on your journey towards a wealthy life. These lessons unleash your potential and help you to achieve your dreams.
So, take your first step to learn none other than Buffett. Load your toolkit with his strategies to become a wizard of the stock market. Get the most profits at each stage of your investment journey.
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