July 2007
Mon Tue Wed Thu Fri Sat Sun
« Jun   Aug »
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Day July 2, 2007

Mistakes were made (by me)

Here’s a neat little article on Warren Buffett’s willingness to learn from his mistakes.

 A key to investing well is a willingness to look stupid, Buffett says. “Most managers have very little incentive to make the intelligent-but-with-some-chance-of-looking-like-an-idiot decision,” Buffett wrote in 1984. Most would prefer “failing conventionally.”

He added: “Lemmings may have a rotten image, but no individual lemming has ever received bad press.”