Annual Letter (2018) - Warren Buffett
(Source : 
BerkshireHathaway_2019.pdf)
'A few of our trees are diseased and unlikely to be around a decade from now. Many others, though, are destined to grow in size and beauty. Fortunately, its not necessary to evaluate each tree individually to make a rough estimate of Berkshire's intrinsic business value.'
*****
If I try just once and give it up, I won't be able to have a second chance. The thing is that I am allowed to wait and to make a hit in a reaonable range. Which means I don't have to be perfect anytime I am in the arena. But mind doesn't follow that simple rule at all, and is always moving around ups and downs. And finally I tend to be preoccupied with what I wish to believe in; Compromise and adapt.
I have to focus on the forest - forget the trees.