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Sunday, March 27, 2011 Of Buffett's mistakes and wisdom Of Buffett's mistakes and wisdom: "For an active investor tracking the stock markets, Warren Buffett needs no introduction. Reams and reams of paper have been consumed in trying to explain the man behind the phenomenon.

Something that has not been adequately covered though are Buffett's mistakes. Before you pass this off as a joke, let us tell you that since investing is more of an art than science, mistakes cannot be completely eliminated and Warren Buffett was no different. As a matter of fact, in his letters to shareholders, he religiously highlights all his mistakes!

'We all learn a great deal more from our failures than our successes.' This is the wisdom that has been passed onto us from generations and if those failures or mistakes come from one of the greatest investors the world has ever known, imagine the kind of learning that can take place.

With this intention in mind, over the next few slides, we will cover a few lessons that Warren Buffett has learned from his own mistakes and how they can be of tremendous benefit to us."

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