Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (30) | Ignore Thread Prev | Next
Author: TMFOtter Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 41326  
Subject: Re: Rule #1: don't lose money Date: 5/8/2007 5:22 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 54
From an email I received from WEB:

Bill:

I enjoyed your “Never Lose Money.” There are two minor errors that I want to point out to avoid use in the future (but not for correction now; it's just not that important).

I've made a ton of mistakes. One of the very worst was to buy Dexter Shoe. But H. H. Brown has been fine. The H. H. Brown mangers are handling the Dexter operation now (a small fraction of its original size), but it was Dexter that was a disaster, not Brown.

We actually made a lot of money out of US Airways. This was only after we had written down our $300 million plus investment to 25% of cost and after I failed in a vigorous attempt to get rid of our preferred at 50 cents on the dollar. We would have had close to a $200 million loss if I had been a successful salesman.

Then Steve Wolf got the one puff out of the used cigar butt and US Air common ran way up. We converted and sold, so we ended up with a very high yield plus a good capital gain.

I could give you other examples where I haven't been so lucky, but they're too painful.

Warren

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (30) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Saul's Investing Discussions

A Board that Makes You Think
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement