How Warren Buffett taught this legendary investor the value of making mistakes

Lynch was called "American Treasurer" by Forbes who is known for the management of the Fidelity Magellan Fund and for expanding assets from less than $ 100 million to $ 13 billion. Therefore, he founded the world's best-selling stock fund for over 10 years at the bull market in the 1980s.

In an interview with the Forbes magazine as part of the "100 Business Mind" series, Lynch taught him to accept what Buffett says is "his own greatest mistake", ie "always sells stocks too early" Said.

He accidentally told Buffett that he called for calls on Saturday in 1989. When my daughter took the phone, she said, "This is Buffett."

Buffett said Lynch likes his new book "Wall Street Man." There Lynch explains his investment style and how it helps the success of others.

Mr. Buffett said, "I would like to use it at year-end report, but I need to have it" or "Can I use it?"

One of the words Buffett quotes is "to sell your winner and control your losers is like cutting flowers and weeding."

Mr. Lynch said he paid homage to Mr. Buffett's request. Eight years after calling, Lynch added that Buffett cited him in the annual report. "I am very excited that he was invited to the White House."

Lynch reiterated this sentence in his book and added further background to the 1997 article "Use Your Edge". He wrote that one of the oldest sayings on Wall Street is "run your winner and reduce losers."

Lynch wrote as follows. "It is easy to make mistakes, go backwards, pull flowers, and drain the weeds."

73-year-old Lynch told him he mistakenly sold it at Home Depot and Dunkin 'Donuts, as he grows more than 50 times earlier in Home Depot and Dunkin' Donuts.

"If you are doing well in this business, you are six of the right things.You have to overcome the mistake when you are right, you have to find a big winner."

"Of course, Warren Buffett can do this, he is Warren Buffett." But do not forget Warren Buffett through his career. He has rituals of his learning like Warren Buffett we know today. He may easily fall into a "busy" continuation trap, but instead he makes three important decisions: this lifestyle does not occur overnight, but in order to take advantage of the combined time First, you need to believe in lifestyle. It is possible and beneficial to do more with less work; your ruthless focus on your own strengths and passions is not only feasible but also necessary.

As you have predicted, you have heard of this man, Warren Buffett. Mr. Buffett is undoubtedly the best-known investor in the world and is an advocate of value investment that asset prices are trying to use assets to determine assets that have not yet achieved intrinsic value. Buffett is one of the most influential people in the financial sector, and there is no doubt about it. Yesterday morning Buffett continued to join the CNBC and repeated his bearish view on the encryption currency, saying, "I can almost certainly say they will fall into a bad ending." It is not surprising that markets lacking the fundamental grounds of evaluation will evaluate their values ​​more frequently. In addition, Mr. Buffett added that he will never invest directly in related assets, he added.