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  1. #1
    Moderator Kolyo's Avatar

    The Big Guys Big Mistakes Thread! !!!

    Hey traders,

    Let’s open a new thread to share and discuss mistakes made by the best and most influentials traders and investors in the world! There are plenty of them and I am sure the discussion here will be long too, but let’s start with one mistake of the best investor in the world Warren Buffet. Here is an exempt of his 2014 annual shareholders letter where he confess few of his biggest mistakes in his career:

    “Consequently, Berkshire paid $433 million for Dexter and, rather promptly, its value went to zero. GAAP accounting, however, doesn’t come close to recording the magnitude of my error. The fact is that I gave Berkshire stock to the sellers of Dexter rather than cash, and the shares I used for the purchase are now worth about $5.7 billion. As a financial disaster, this one deserves a spot in the Guinness Book of World Records.”

    Really a huge one
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  2. #2
    Moderator Kolyo's Avatar
    Here is one more recent. Just a year ago:

    “For the $830 million Everest Capital Global, his Miami-based firm’s oldest and biggest fund, investments from Switzerland contributed 0.6 percentage points to gains that month. Last week, the wager had a far bigger impact. In less than a day, it wiped out the entire 24-year-old fund, according to a person familiar with Everest Capital, leaving the firm with about $2.2 billion in seven other funds.”

    The information taken from Bloomberg here

    Once again a proof that leverage kills
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  3. #3
    Legendry Member Michael Hodges's Avatar
    Leverage kills, quickly and without remorse....

  4. #4
    Legendry Member willyw's Avatar
    with greed, leverage kills faster

  5. #5
    Master Member Bogdan G's Avatar
    So Buffet makes mistakes too, hmmm...
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  6. #6
    Legendry Member willyw's Avatar
    Quote Originally Posted by Bogdan G View Post
    So Buffet makes mistakes too, hmmm...
    Only God don't make mistakes

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