But that is about it. Nothing on saying things like 'I made a colossal mistake'. Nothing.
That is why I say Warren, in this case Warren Buffett has got some guts and gumption in admitting to his past investment mistakes.
I hope more top management would be able to do this. But most of them are transitory in nature and move on in a matter of years. Perhaps the family-owned businesses, listed or not, would have better luck at dishing out such words of steel.
|Bill Gates termed this the most important letter by Buffet, thus far.|