[My Takeaway] "You don't have to make it back the way you lost it." ~Warren Buffett You can make it back through other ways so why don't you admit your mistakes, reflect and move on? [Berkshire Hathaway Chairman's Letter 1994] https://www.berkshirehathaway.com/letters/1994.html *Command+F / Ctrl+F and search 'USAir'* [Full Videos of Berkshire Hathaway Annual Meeting 1995] https://buffett.cnbc.com/1995-berkshire-hathaway-annual-meeting/ [ABOUT - Collection: Warren Buffett] Whenever, I search up on fund managers that practice value investing. All of them done 1 common thing that is, they study whatever they can about Warren Buffett from his annual letters, annual meeting or even interviews. Hence, I decided to do the same and share it together with all of you so that we can learn and grow together :) [My 2 Cents] "Someone builds a business over years. You know, that, they know how to do. And then they go out some place and get into a mathematically disadvantageous game . Start losing it and they think they’ve got to make it back, not only the way they lost it, but that night . It’s a great mistake ." ~Warren Buffett
A very interesting paragraph, if you interpret the 'game' as buying a stock.
You start losing not when the stock value falls, but, the moment you decided and bought the stock , you lost .