There Will Be Lessons After Failure.

Today's Buffett Mystery Club will bring a very important understanding of life. This is also a belief that Buffett and many masters spend their whole life practicing.

"Sydney Opera House? Wow, it's perfect!" in the secret club, Buffett was full of praise.

What made Buffett so exaggerated? Originally, Ruan Xiaolei showed us the Sydney Opera House model he made by himself.

"Xiao Lei, your handcraft course will surely get..."

Buffett continued to praise.

"Oh, I'm sorry, my friend ah Si has an urgent problem!" Li Na, who just entered the club gate, interrupted Buffett's words and found out a magic card.

Magic card, what to do? Li Na said, this is a card that many children like to collect now, each card has different animation style of the deformation robot.

"Yes, likes small businesses.

"Magic card? Who doesn't like it?" Chou Anne and Ruan Xiaolei grabbed the cards from Li Na's hands and studied happily.

Li Na said, "of course I know!" so he wanted us to make an idea: should we put all our money on the magic card?

"Magic card must have a market!" Ruan Xiaolei said while playing.

Hearing this, Buffett smiled like a philosopher: "yes, magic card is very popular recently.

But the latest trend is always short-lived.

After listening to this sentence, Zhou an Tsai was wondering: "well...

Remember the nose whistle a few years ago? It's so hot! "

Li Na nodded. "Remember! When the streets were full of children whistling!"

Buffett reminded me: "the owner of the toy store has hoarding a lot of nose whistles last time."

"Later, we could not stand the noise!" Ruan Xiaolei recalls.

"Later, children playing with nasal whistles are fed up with themselves," Chou Anne added.

"Yes, no one ever bought a whistle again.

Hearing this, Li Na lifted the magic card full of Magic: "but children will always like magic cards."

Buffett looked at Li Na: "are you sure? If the trend is wrong, it's going to be a big problem!"

Andy thought, "it's best to persuade him to put money on something that is always welcome, such as basketball."

Buffett added, "or should be some kind of life."

A month later...

"God!" Li Na excitedly came to the mysterious club to find Buffett and Ann son: "I told arth not to put all the money on the magic card.

Now, there is a vision. The result is exactly the same as expected. "

Li Na paused, and then said, "the boss of the field is buying a lot of magic cards as well as last time."

Just then, Ruan Xiaolei came in, holding a new model of Sydney Opera House: "tell everyone a good news, because I use recycled materials, not only won the first, but also get extra bonus points!"

Andy asked curiously, "What Recycling materials do you use?"

"Look, the boss of the field sells me the magic card at super low price!" Ruan Xiaolei complacent.

"It seems that he has not learned a lesson yet," said Buffett.

Famous commenters don't forget past events, teachers of future affairs.

Director Yang Zhong Dao Buffett Club

Charlie Munger, Buffett's partner, said, "I want to know where I will die and never go to that place."

Munger stressed that studying failure in life is more important than studying success.

Because failure is the mother of success. If you want to succeed, you must first study failure.

The story of the magic card tells us that the key to success is not only to learn from our mistakes, but also to learn from others' mistakes.

Because of human nature, it is difficult for people to deny themselves, so it is difficult for ordinary people to admit their mistakes.

The courage to admit mistakes is the key to learning from one's mistakes. True masters are bold enough to admit their mistakes.

When Buffett made a speech at University of Florida, a student asked, "tell me about your investment mistakes."

Buffett humorously replied, "how much time do you have?" and then he gave you a lot of examples of his own investment mistakes and his own investment and missed opportunities.

Soros, a financial predator, said, "I got real happiness in finding mistakes."

What does this sentence mean? In Soros's book about Soros, he explains, "for others, making mistakes is a place of shame, and for me, realizing my mistakes is the source of pride.

Once we realize that human beings are defective in understanding things, making mistakes is not terrible. The terrible thing is not to correct our mistakes.

In order to learn from the mistakes you made, Davies set up a wrong wall on the wall of the office.

He printed out his mistakes, mounted them in a box, hung on the wall, and reviewed his mistakes every day at work.

When a client visits Davies, he sees that he has made so many mistakes, but he is brave enough to face it. Then he will feel that he is less likely to make mistakes in the future. So he is very confident that he will give the money to Davies.

But on the other hand, life is short. It is far from enough for everyone to learn from his own mistakes.

Personal mistakes are only a small part of all human errors.

And when you make a mistake, you must pay the price, such as time, money and health loss.

{page_break}

Buffett once said humorously: "when it comes to learning from failure, I believe that it is better to learn from others' failures, the more the better."

Munger also said, "I always believe that I can learn the essence of existing products from others, and I do not like sitting alone there.

Because no one has been able to be smart enough.

To learn the lessons of others, the most important thing is to study history.

Bill Gross said that the books on his desk were not the books of their own investment, nor Peter Lynch's "victory over Wall Street", but a history book on finance and economics.

Munger also read hundreds of biographies every year, learning lessons from everyone's life.

Finally, there is another important point: the importance of having a positive attitude.

Because even if we did the first two things and learned from our mistakes and others' mistakes, we will still make mistakes in the future.

At that time, we should face life with a positive attitude and turn bad things into good ones.

Buffett admitted that it was a mistake to buy Berkshire in those days when Berkshire was a textile mill.

The textile industry in the United States is declining under the competition of China and other countries.

Then Buffett stopped investing in the textile mill, used money to buy insurance companies, and bought high quality assets, making it the flagship of Buffett's current financial holdings.

So he said, "don't be afraid of making mistakes.

There are no failures or mistakes in my life, and I didn't become a good thing in the end.

For example, I did not dare to speak in public at that time, but let me pay special attention to this matter. I really went to class and deliberately trained myself.

Now, this has become one of my strengths.

If I hadn't trained in this area, I don't think I would dare to ask my wife to marry me. "

Obviously, even when choosing a life partner, a positive attitude is also important.

Otherwise, Buffett will not necessarily be able to find his wife.

Recently, the animated animated movie "Kung Fu Panda 2", both Bao and Shen Wang have been abandoned experience, but one of the resentment to the Central Plains, an open-minded blend of Kung Fu.

Po responded to life with a positive attitude, and ultimately saved everyone and saved kungfu.

Therefore, we must learn from Bao, first accept our own life, and then pform it with a positive mind.

In the end, you will find that the projectile fired into itself has turned into a gorgeous fireworks.

Buffett's advice

Remember, learn not only from your mistakes, but from others' failures.

If your product depends on the emotional needs of customers, the success or failure of business will be hard to predict.

We should invest in businesses that are reliable in the future. Otherwise, it will be easy to end in failure.

The same is true of making friends.

If you are changeable and unreliable, your friends will be very difficult to make judgments and choices.

Remember, "be trustworthy and friendly, learn from your failures, and more importantly, learn from others' failures."