1. “I really believe it's better to learn from other people's mistakes as much as possible.” - Warren Buffett
  2. “You can't imagine how many shrewd, experienced businessmen forget in Wall Street what it took them years to learn.” - Edwin Lefevre
  3. “Just because we think a stock is undervalued doesn't mean we're right. We may be wrong in our judgment.” - Walter Schloss
  4. “Somehow, we believe that we have a better chance of winning a game of probabilities, totally disregarding that everybody who is playing the game has the same possibility of winning.” – Naved Abdali
  5. “The more decisions you make, the higher the chances are that you will make a poor decision.” - Lou Simpson
  6. “More investment sins are probably committed by otherwise quite intelligent people because of "tax considerations" than from any other cause.”  - Warren Buffett
  7. “People tend to weigh their most recent experiences more than the affairs of the past.” – Naved Abdali
  8. “Being very early and being wrong look exactly the same 99% of the time.” - Seth Klarman
  9. “Diversification is a safety factor that is essential because we should be humble enough to admit we can be wrong.” - John Templeton
  10. “You have to say to yourself, "If I'm right, how much am I going to make? If I'm wrong, how much am I going to lose?" That's the risk/reward ratio.” - Peter Lynch
  11. “One of the things you learn in this business is humility because you see your mistakes the next day.” - Walter Schloss
  12. “The times I have been most wrong are the times I thought I was most right.” - Peter Bernstein
  13. “I have this motto in life as well as in business, which is: every day, I'm lucky if I have learned something new and I'm doubly lucky if it hadn't cost too much.” - Chuck Akre
  14. “Many mistakes have been made in buying growth stocks on the theory that the future will duplicate the past.”  - Benjamin Graham
  15. “Every great money manager I've ever met, all they want to talk about is their mistakes. There's a great humility there.” - Stanley Druckenmiller