Warren Buffet Makes Mistakes Too
Have you heard f Warren Buffet? Why s he famous?
Who is you favorite business leader? Why?
The Oracle of Omaha earned his nickname — and more than a few billion dollars — by spotting investments that others overlooked, but Warren Buffett makes mistakes.
Just read Buffett's annual letters to shareholders of his conglomerate, Berkshire Hathaway. His pronouncements are eagerly waited for by investors around the world. But sometimes even the Oracle gets it wrong.
Of course, Buffett's shareholder letters are filled with a lot more good decisions than bad ones. His $44 billion fortune attests to that. But the blunders can teach us something. Or at least remind us that he's human.
The blunder: Buffett predicted in last year's letter to share-holders that the U.S. housing recovery would begin within the next year and help fuel economic growth.
He believed that eventually people would have to buy houses again as they would get sick of living with other people.
Some of his other blunders were in the energy and textile sectors
So it goes to show that even the best of us can get it wrong
Guessing meaning from context
Try to guess the meaning of the words in bold and match them with their closest meaning from the choices in the right. The answers are below the table.
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Something hopes to prove or be an example of something |
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Many companies that are part of a large one |
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Something that makes something else grow quickly. |
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Make an error because of a wrong judgement |
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You are angry because something keeps happening |
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A=3, B=10, C=3, D=9, E=1, F=8, G=5, H=7,I=2, J=6
Some example sentences using the new words to help you to better understand their meaning.
1. You can sometimes spot companies that have debt problems because they are trying to reduce costs a lot
2. If you like investing then don't overlook small companies that may become conglomerates one day.
3. The government pronounced that they would raise taxes for rich people.
4. Sales of Samsung DRam chips attest to the fact that smartphone sales are increasing
5. Even teachers sometimes make embarrassing blunders such as spelling mistakes.
6. Hyundai's growth was fueled a lot by building ships and cars.
7. People are sick of high gasoline prices that is why car companies are trying to build electric cars.
8. This cold weather goes to show that winter as not finished yet.
9. Nokia got it wrong by not entering the smartphone market earlier.
Some discussion questions using the new words to help you better understand the word meaning and how to use them correctly. Try to use the words in your answer.
1. Why do you think Warren Buffet got it wrong?
2. If you are investing in the share-market the what should you not overlook.
3. Why are Korean conglomerates so successful?
4. Has your company or an organization you know made any interesting pronouncements? Tell me about them?
5. What do good marks on an exam attest to? What does it go to show?
6. What is one blunder you have made?
7. What is fueling China's economic growth?
8. Describe something you are sick of?
ECK Education
