At the twilight of you life will you be able to look back on what you have done and be completely transparent with all of your biggest failures in your career? Well that is just what Mr. Warren Buffet did with this years annual report to investors. In the section titled Berkshire – Past, Present and Future he recounts many of his major failures such as:

-Not selling his shares of Berkshire (back when it was a textile manufacturer) over an eighth of a point; putting him into the declining textiles business for many many more years to come
-Buying a great business (NICO) with Berkshire instead of his his investment partnership – diverting $100B (with a B) from his partners to a bunch of strangers
-Buy companies with stock vs. cash (Bought a company for $443M, went to zero and the stock he gave up is now worth $5.7B)

These and many other nuggets of wisdom in this years annual report – Link to specific section

Always remember we learn more from our failures than we do our successes…tell the world.

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