Admitting investing mistakes directly leads to making better decisions and, thus, making more money

I was wrong.” It’s a simple thought that is not often expressed or felt in any area of expertise. People would much rather insist that they were actually right, try and forget about the whole thing, or even sincerely believe in whatever excuses they were giving. But not Warren Buffett. Here’s what Buffett says in his latest letter to shareholders of Berkshire Hathaway: “Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few ent ..

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