“I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.” – Charlie believes that we can learn from our failures only if we accept responsibility for them and examine exactly why we failed. Blaming someone else and shirking responsibility is a missed learning opportunity. That is why Berkshire’s annual report is always quick to point out Warren and Charlie’s screw-ups and the lessons they learned—such as their investment in US Airways, which they thought going in was a good investment but
...more
