Mea culpa investing

As you open the 'Wealth Insight' January 2023 issue, some of you must be thinking that surely, there's nothing in common between us and Warren Buffett. His investment vehicle, Berkshire Hathaway, is holding around $145 billion in cash. That's about Rs 12 lakh crore, give or take. I guess all my readers have less than that, and so do I. So, how can it be that we can learn anything at all from Buffett or Munger or anything about Berkshire? They are like a different species compared to us. But that's actually not true. That's like saying that a young school cricketer can learn nothing from watching videos of Sachin Tendulkar. We may have slightly less money than Buffett does, but the principles of investing remain the same. Let me give you a perfect example. One of the cornerstones of becoming a better investor (better anything, actually) is to learn from one's mistakes. Clearly, to learn from mistakes one has to admit one's mis