The Best Opportunities Carry More Perceived Risks Stick to Fundamentals despite Mistakes

Stay Focused and Take Mistakes Seriously

I’ve been doing this for more than 25 years and have learned never to take mistakes lightly. What’s most important for us, though, is to stay focused on the discipline of only investing in companies with the characteristics of leaders, laggards and innovators that we’ve seen work as investments over a long period of time. That discipline keeps us grounded, and helps us keep mistakes in perspective. Otherwise, you can drive yourself crazy.