People do dollar cost averaging because they have regret of making one big mistake. But the fact of the matter is that, mathematically, the market rises more of the time than it falls. It falls, but it rises more of the time than it falls.
I bought a company in the mid-'90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
A lot of people got in at the wrong time. A lot of people did very well and some people said, "This is it. I'll never get back in again." And they maybe meant it, but they probably got back in again anyway.
For the taxable investor, indexing means never having to say you're sorry.
I regret the Pro Fit investment because I didn't know that I was dealing with people who were more concerned about the exposure than fixing their business.
There is no doubt One.Tel was a terrible investment and something that I regret greatly.
Every venture capitalist says at some point, 'I wish I could run this company myself' - to be the entrepreneur instead of the investor.
I'm not an investor in Meerkat, sadly, or, Periscope - I missed both of those - however, I do have a lot of inside information.
There's a number of companies clearly that we wish we had invested in either at the early or at the moderate stage.
We couldn't buy Google on the IPO, but I knew I wanted to own it. I was gonna go big. It came out and went down a bit. I got distracted by something and didn't get in.
