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REGRETS? EVERYONE SHOULD HAVE AT LEAST A FEW

Which leader of a large financial services company recently confessed to shareholders of “a very expensive business fiasco entirely of his own making”? The executives of many companies owe their investors that kind of apology. But mostly their statements make extensive references to unprecedented turmoil in the financial world, challenging market conditions and the dangers of historic errors of regulation. You will find an occasional expression of regret for what has happened. That is not quite the same as regret for what one has oneself done.

The company in question seems to have responded well to the challenging conditions. It is led, of course, by Warren Buffett. He has publicly admitted defeat in Berkshire Hathaway's withdrawal from the credit card business after substantial losses.

The Sage of Omaha's investment record, and the adulation of his supporters, is such that he could now own up to the assassination of Abraham Lincoln and be cheered to the rafters. You might think that past success makes it easier to admit present failure, but you more often find the reverse: many people in senior positions take the view that their past achievements simply confirm their own assessment of their extraordinary prescience.

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约翰•凯

约翰•凯(John Kay)从1995年开始为英国《金融时报》撰写manbetx20客户端下载 和商业的专栏。他曾经任教于伦敦商学院和牛津大学。目前他在伦敦manbetx20客户端下载 学院担任访问学者。他有着非常辉煌的从商经历,曾经创办和壮大了一家咨询公司,然后将其转售。约翰•凯著述甚丰,其中包括《企业成功的基础》(Foundations of Corporate Success, 1993)、《市场的真相》(The Truth about Markets, 2003)和近期的《金融投资指南》(The Long and the Short of It: finance and investment for normally intelligent people who are not in the industry)。

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