At first, he thought that department stores were an industry that would never lose money in an era. In any case, it is value-added. He trusted the manager, so he bought it without hesitation. But he didn't consider the inventory, and there were other factors, such as the rise of supermarkets, the huge blow of traditional retail industry, and finally the loss caused by misjudgment.
More famous, there is the acquisition of Solomon Company. This time, it is also because Buffett is ignorant of people. He is very optimistic about the president of Solomon and thinks he has both ability and political integrity. In particular, he attaches great importance to his reputation. Sometimes he would rather lose some money than help his clients. So Buffett thought it was almost impossible to lose money by investing in her, so he bought 9% of Solomon's convertible preferred stock directly in coupon rate, but he didn't expect Solomon's employees to be too greedy.
Buffett wants to get it back, but just for this 9% return, he has invested more money, which is not worth the candle. Buffett does have a unique vision, but he still has little contact with some investors on Wall Street and doesn't realize the essence of Wall Street? Greed, no organization or enterprise can escape this word, which also led to Buffett's investment failure.
The rest of the mistakes were ConocoPhillips, American Airlines and Buffett, all of whom made mistakes unintentionally, leading to investment failure. However, in his investment process, the number of successes far exceeds the number of failures. The rate of return of each success can bear his failed investment, and gamblers can't win ten times. Buffett was named a stock god for a reason. This is because Buffett's courage, coupled with his belief in himself, has enabled him to make great achievements in the market.