Key Takeaways
- Warren Buffett treats mistakes as a curriculum to learn from, documenting more than 30 major blunders in shareholder letters.
- Buffett says his biggest mistakes were “errors of omission”—passing on Amazon.com, Inc. (AMZN) and Google, now part of Alphabet Inc. (GOOGL), and selling winners too early.
- The goal isn’t a perfect record; it’s letting a few big winners overwhelm the inevitable losers.
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While many on Wall Street love to hype their wins and are conspicuously shy about their losses, Buffett is as open about his misses as his hits.
“I make plenty of mistakes and I’ll make plenty more mistakes, too. That’s part of the…
