In an article in the Wall Street Journal about Buffet, the latter mentioned that he has made mistakes on his portfolio, notably the purchase of Dexter shoes using BKHT shares which cost his shareholders more than they bargained for (source: here).
So the World's best investor is not so perfect after all.
Which leads me to the point of the day: Failure IS an option. And anyone who says otherwise is a dog. Note though: how you view "failure" is a different POV altogether. A Japanese proverb reacts this way: "Fall seven times, get up eight." (Note: The number eight, is a lucky number because it is infinite.) Michael Jordan said that the reason why he could shoot 30 points in a game... is because he had missed 60 baskets in his practice. OK, So, maybe "failure" is not a useful term... we can always use the term "feedback." Does that sound better? Only the BKHT shareholders can answer that.
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