Descriere & specificații

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 n 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