Buffett's 1989 letter on avoiding costly myths and mistakes

When Warren Buffett reflected on his 25 years of investing, it was not just about celebrating success but also dissecting mistakes. That is what makes his 1989 letter stand out. It's one of those brutally honest reflections that make you sit up and pay attention. It's packed with lessons on taxes, look-through earnings, debt-fuelled acquisitions, and why avoiding mistakes is often better than trying to fix them. We break it down in continuation of our story series covering his letters and their investing wisdom.

This article was originally published on April 03, 2025.