Avoiding the common pitfalls of investing

Even millionaires make mistakes and Learn from Them.

Benjamin Graham went bangkrupt on three separate occasions as an investor. But each time, he documented and studied his failures, and he was eventually able to impart his investment wisdom to others, including Warren Buffet, who in turn learned from his own mistakes and failures.

Early in Buffet’s career, he mistakenly believed he could save a failing textile mill. After being forced to liquidate its textile operations, Buffet learned to pay up for quality. He turned the failing company into a US$140 billion business.