Listening to Warren Buffett talk about his failures is a good exercise because he did a whole lot of failing on his way to succeeding. Investing is challenging for even the best investors, and challenges are good for us. The markets give clear and objective feedback on the quality of our decision making. My need to aggressively grab opportunities, coupled with my acquired fears of being wrong, forced me to develop principles for decision making that work well. I hope that I can convey them well.
Ray Dalio On Warren Buffett