Buffett's name is like thunder to people who speculate in stocks. It is this man known as the "stock god". When the stock market was in chaos and many companies were in trouble, Berkshire Hathaway under his command not only did not fall, but made steady profits. According to statistics, in 2007, Berkshire Hathaway's profit increased by 20% over the previous year, reaching more than $654.38+03 billion.
Buffett made countless correct decisions in the process of running the company, and he made today's achievements step by step. Buffett bought a 0.3% stake in PetroChina/KLOC-0 in 2002-2003 for $488 million. Buffett said that at this price, the market value of PetroChina at that time was about $37 billion, while he and his partner Charlie believed that the market value of PetroChina was about $654.38+000 billion. He further stated that with the soaring international oil price and the increase of oil and gas reserves of PetroChina, its valuation should be higher. When the market value of PetroChina rose to $275 billion in the second half of 2007, Buffett and Charlie thought it was time. They decisively sold all the shares of PetroChina and made a profit of $4 billion.
After Buffett sold the shares of PetroChina, the share price of PetroChina is still rising. Many people talk about his miscalculated business behavior behind his back, but it turns out that Buffett took the right step, because after the stock market adjustment, PetroChina's share price unexpectedly fell, and Buffett still won.
Then, even Buffett, an unpredictable stock god, sometimes makes mistakes. Buffett once mentioned in "Letter to Shareholders" that he was suggested to buy KXAS TV station in Texas for $35 million, but unfortunately he didn't adopt it and lost a good opportunity, which was really a major mistake.
Buffett recalled: If I had listened to the advice and bought KXAS TV in Texas, its total assets might have reached 800 million dollars now, and its profits over the years might have reached 654.38 billion dollars. For the missteps of that year, Buffett can only sigh with regret: "My brain has long gone on vacation, and I didn't expect to inform myself at all."
In addition, Buffett's most worrying investment blunder is an investment plan that happened in 1993. At that time, he bought Dexter Shoes Company with Berkshire stock worth $433 million, because Buffett saw the development prospect of this company, but disappointingly, the competitive advantage of Dexter Shoes Company vanished in just a few years and finally had to end in bankruptcy. It was this mistake that cost Berkshire a total of $3.5 billion.
Buffett believes that mistakes will always happen. Despite the deepest lesson of Dexter Shoes Company, he still can't guarantee that he won't make mistakes in the future. A person can't lose confidence in his judgment just because of a few mistakes. Mistakes are mainly caused by inadequate preparation, so it is useless to regret after making mistakes. The key is to take active action and analyze the cause of this mistake, so as not to make the same mistake again in future decisions.
Winning or losing is a common occurrence in military strategists. There are no ever-victorious generals in the world, and we can't erase all our previous achievements just because we used our troops improperly once or twice. Smart people make mistakes, not to mention us ordinary people.
Don't deny yourself when you make a mistake because of some lack of preparation. If there is no support from others, give yourself more support and give yourself an encouraging smile in front of the mirror. With this lesson, the road will be more stable in the future. In this world, if you don't even believe in yourself, who will believe in you?