Mistake 1: Buying the Right Business at the Wrong Time – The Value Trap

The Berkshire Hathaway Case Study

Warren Buffett’s acquisition of Berkshire Hathaway represents a masterclass in how even legendary investors can fall into value traps. In the 1960s, Berkshire appeared to be a bargain – a textile company trading below its intrinsic value. However, the underlying business was fundamentally flawed: the textile industry in New England was facing structural decline due to foreign competition and changing consumer preferences.

The Two-Pronged Error:

Structural Decline Misdiagnosis: Buffett failed to recognize that cheap doesn’t always mean good value when an entire industry is facing extinction
Opportunity Cost: Every dollar invested in Berkshire was a dollar not invested in growing, profitable businesses

Singapore Application: Avoiding Local Value Traps

Traditional Industries Under Pressure: Singapore investors should be particularly wary of companies in declining sectors, even if they appear statistically cheap:

Traditional Retail: Physical retailers like Metro Holdings or Robinsons (before its closure) may have appeared cheap on paper, but the rise of e-commerce and changing consumer habits made them poor long-term investments
Print Media: Singapore Press Holdings’ media division faced structural headwinds from digital disruption, making it a potential value trap despite historically strong market positions
Traditional Banking Models: While Singapore’s major banks (DBS, OCBC, UOB) have adapted well, smaller financial institutions that haven’t embraced digital transformation could become value traps

Singapore-Specific Considerations:

Land Lease Expiry: Properties with short remaining leases might appear cheap but face declining asset values
Government Policy Shifts: Industries facing regulatory headwinds (like certain gaming or tobacco-related businesses) may trade at discounts that reflect real risks
Demographic Changes: Businesses serving primarily elderly demographics without adaptation strategies may face long-term decline

How to Avoid This Mistake in Singapore:

Industry Analysis: Before investing in any seemingly cheap Singapore stock, analyze whether the entire sector is facing structural challenges
Government Policy Trends: Understand Singapore’s long-term economic strategy and avoid industries that conflict with national priorities
Competitive Moats: Ensure the company has sustainable competitive advantages, not just temporarily depressed valuations

Mistake 2: Ignoring Clearly Understood Great Opportunities

The Alphabet Example

Despite Berkshire Hathaway spending millions on Google advertising through GEICO, Buffett failed to connect the dots about Google’s extraordinary business model. He had first-hand evidence of Google’s effectiveness and pricing power but didn’t translate this operational insight into an investment thesis.

Singapore Application: Recognizing Local Champions

Missed Opportunities in Singapore’s Market: Singapore investors often overlook excellent companies in their own backyard, despite having direct experience with their products and services:

Sea Limited (Shopee/Garena):

Many Singaporeans used Shopee for e-commerce and played Garena games
The company’s regional expansion and digital ecosystem were visible to local users
Despite this familiarity, many local investors missed the opportunity to invest early

Grab Holdings:

Singaporeans witnessed Grab’s transformation from ride-hailing to super-app
The company’s expansion into food delivery, payments, and financial services was observable in daily life
Local investors had unique insights into Grab’s market penetration and user adoption

DBS Bank’s Digital Transformation:

Singaporeans could observe DBS’s superior digital banking experience firsthand
The bank’s regional expansion and fintech initiatives were clearly visible to local customers
This operational excellence translated into superior stock performance

Framework for Capitalizing on Local Knowledge

The Singapore Advantage:

Regulatory Environment: Understanding Singapore’s supportive fintech and digital economy policies
Regional Gateway Position: Recognizing which Singapore companies are best positioned for Southeast Asian expansion
Government Initiatives: Identifying companies aligned with Smart Nation and sustainability goals

Practical Application:

Customer Experience Analysis: If you’re consistently impressed by a Singapore company’s service, investigate their financials
Market Position Assessment: Companies dominating the Singapore market may have advantages for regional expansion
Government Partnership Indicators: Businesses working closely with Singapore agencies often have sustainable competitive advantages

Mistake 3: Not Acting Fast Enough on Known Concerns – The Thumb-Sucking Problem

The Tesco Case Study

When accounting irregularities emerged at UK retailer Tesco, Buffett had sufficient information to act decisively. Instead, he sold his position gradually, which proved more expensive as the company’s problems deepened and the stock price continued falling.

Singapore Context: When to Cut Losses Quickly

Singapore-Specific Warning Signs: Given Singapore’s strong regulatory environment and corporate governance standards, red flags should be taken particularly seriously:

Accounting Irregularities:

Noble Group: Despite being a Singapore-listed company, accounting concerns emerged that should have prompted faster action
Hyflux: Financial distress signals were apparent before the eventual collapse

Regulatory Concerns:

Gaming Companies: When Singapore tightened regulations on gaming companies, investors should have acted quickly rather than hoping for policy reversals
Property Developers: Changes in cooling measures should prompt immediate reassessment of property-related investments

Operational Red Flags:

Management Changes: Frequent C-suite turnover in Singapore companies often signals deeper problems
Declining Market Share: In Singapore’s small, competitive market, losing market share can be particularly damaging

The Singapore Investor’s Action Framework

Quick Decision-Making Triggers:

Regulatory Announcements: Singapore’s government typically provides clear guidance – don’t fight policy trends
Audit Qualifications: In Singapore’s well-regulated environment, audit issues are particularly serious
Cash Flow Problems: Given Singapore companies’ typically strong balance sheets, liquidity issues are red flags
Key Personnel Departures: In relationship-driven Asian business culture, management continuity is crucial

Cultural Considerations in Singapore:

“Face-Saving” Behavior: Management may be reluctant to admit problems quickly; watch for subtle warning signs
Government Relationship Changes: Companies losing government support or contracts should be reassessed immediately
Regional Exposure: For Singapore companies with significant regional operations, country-specific risks require quick responses

Integrated Lessons for Singapore Investors

Building a Robust Investment Process

Pre-Investment Checklist:

Industry Health Check: Is this sector growing in Singapore and regionally?
Competitive Position: Does this company have sustainable advantages in Singapore’s competitive landscape?
Government Alignment: Are the company’s activities aligned with Singapore’s long-term economic strategy?
Regional Scalability: Can this Singapore company expand successfully across Southeast Asia?

Ongoing Monitoring Framework:

Quarterly Red Flag Review: Systematically check for warning signs every quarter
Government Policy Tracking: Monitor policy changes that could affect investments
Competitive Landscape Assessment: Watch for new entrants or changing market dynamics
Exit Criteria Definition: Set clear triggers for selling positions

The Singapore Advantage: Turning Local Knowledge into Investment Edge

Singapore investors have unique advantages that can help avoid Buffett’s mistakes:

Information Asymmetry Benefits:

Direct experience with local companies’ products and services
Understanding of regulatory environment and government priorities
Insights into regional expansion strategies and market dynamics
Network effects from Singapore’s concentrated business community

Risk Management Advantages:

Strong regulatory environment reduces fraud risk
Transparent reporting standards
Active business media coverage
Professional analyst coverage of major stocks

By learning from Buffett’s acknowledged mistakes and applying these lessons to Singapore’s unique market characteristics, local investors can build more robust investment processes that capitalize on their natural advantages while avoiding common pitfalls.

The key is translating everyday observations about Singapore businesses into systematic investment analysis, acting decisively when evidence warrants action, and avoiding the trap of assuming that cheap always means good value in a rapidly changing economic landscape.

Translating Buffett’s Lessons into Singapore Investment Scenarios: A Systematic Approach

Scenario-Based Analysis: From Observation to Investment Decision

Scenario 1: The Singapore Retail Evolution – Avoiding Value Traps

The Observation: You’re a regular shopper at Orchard Road and notice:

CapitaLand malls are consistently crowded but with different tenant mix than 5 years ago
Traditional department stores have smaller footprints
F&B outlets and experiential stores are expanding
Online pickup points are proliferating in malls

Traditional “Cheap Stock” Thinking (The Trap): “Metro Holdings looks cheap at 0.3x book value – prime Orchard Road real estate can’t be worthless!”

Systematic Analysis Framework:

Step 1: Industry Health Check

Declining Metrics: Traditional retail sales per square foot down 15% over 3 years
Structural Shift: E-commerce penetration in Singapore rose from 5% (2019) to 12% (2023)
Regulatory Environment: Government pushing digital economy initiatives

Step 2: Competitive Position Assessment

Metro Holdings: Limited digital integration, aging customer base, high rent burden
CapitaLand: Diversified portfolio, strong digital initiatives, experiential focus
Comparison: One is fighting change, the other is leading it

Investment Decision Matrix:

CompanyValuationIndustry TrendAdaptationDecisionMetro HoldingsCheap (0.3x book)Declining traditional retailMinimalAVOID - Value trapCapitaLandFair (1.2x book)Growing experiential/mixed-useStrongCONSIDER - Adaptation play

Outcome Validation: Metro Holdings eventually faced closure while CapitaLand’s mall REITs outperformed through successful tenant mix evolution.

Scenario 2: The Digital Banking Revolution – Recognizing Local Champions

The Observation: As a DBS customer, you notice:

PayLah! adoption surging among hawkers and small businesses
DBS digibank expanding rapidly across Southeast Asia
Traditional banking competitors still pushing physical branch services
Government actively promoting digital payments and fintech

Traditional Thinking: “All banks are similar – I’ll just buy the cheapest one by P/E ratio”

Systematic Recognition Framework:

Step 1: Customer Experience Analysis

Personal Usage: DBS mobile app significantly superior to OCBC/UOB
Market Feedback: Consistent awards for digital banking innovation
Adoption Metrics: PayLah! merchant acceptance growing 40% annually

Step 2: Strategic Position Assessment

DBS Digital Advantages:
✓ API banking infrastructure
✓ Regional digital-first strategy
✓ Fintech partnerships and investments
✓ Government smart nation alignment

Traditional Banks:
✗ Legacy system constraints
✗ Branch-heavy cost structure
✗ Slower digital transformation

Step 3: Investment Thesis Development

The Opportunity: DBS trading at 1.1x book value vs regional banks at 0.8x The Insight: Premium justified by superior digital infrastructure and regional expansion potential

Investment Decision:

Position Size: Overweight DBS vs Singapore bank sector
Timeline: 3-5 year hold for digital transformation benefits
Monitoring: Track digital banking metrics, regional expansion progress

Validation Metrics:

DBS subsequently outperformed Singapore banking sector by 25% over 2 years
Regional digital banking revenues grew 300% from 2020-2023

Scenario 3: The Grab Super-App Evolution – Capitalizing on Local Knowledge

The Observation (2018-2019): Singapore residents witnessed:

Grab dominating ride-hailing post-Uber exit
Rapid expansion into food delivery (GrabFood)
Launch of GrabPay gaining merchant acceptance
Integration with local services (parking, public transport)

The Challenge: Grab was pre-IPO, but the learning applied to similar opportunities

Systematic Opportunity Recognition:

Step 1: Market Dominance Indicators

Usage Frequency: Personal usage shifted from occasional to daily
Network Effects: More drivers attracted more users, creating virtuous cycle
Market Share: Commanding 70%+ in ride-hailing, rapidly gaining in food delivery

Step 2: Economic Moat Analysis

Grab's Competitive Advantages:
- Government regulatory approval and partnerships
- Data network effects from multi-service platform
- High switching costs (user behavior, driver ecosystem)
- First-mover advantage in super-app model for SEA

Step 3: Comparable Investment Opportunities Since Grab wasn’t public, Singapore investors could apply similar analysis to:

Sea Limited: Gaming success translating to e-commerce dominance
Gojek-related investments: Regional super-app competition

Investment Framework Application:

Investment Framework Application:

Observation	Analysis	Investment Action
Daily usage increasing	Network effects strengthening	Research comparable public companies
Government support	Regulatory moat building	Monitor for IPO opportunity
Regional expansion	Market opportunity expanding	Consider regional tech ETFs

Scenario 4: The Thumb-Sucking Problem – Noble Group Warning Signs

The Situation (2015-2016): Singapore investors observed multiple warning signs:

Accounting firm changes and audit delays
Short-seller reports questioning asset valuations
Management turnover including CFO departures
Commodity market downturn affecting core business

Traditional Approach (Thumb-Sucking): “It’s a temporary problem – Noble has strong government connections and will recover”

Systematic Red Flag Response Framework:

Stage 1: Initial Warning (Q1 2015)

Red Flag: Iceberg Research report questioning accounting
Traditional Response: “Short sellers are just trying to manipulate”
Systematic Response: Reduce position by 25%, investigate claims

Stage 2: Escalating Concerns (Q3 2015)

Red Flag: Auditor Ernst & Young resigns
Market Reaction: Stock down 30% but still above crisis levels
Systematic Action: Exit remaining 75% position immediately

Decision Matrix for Singapore Investors:

Decision Matrix for Singapore Investors:

Warning Level	Indicators	Action Required	Rationale
Yellow	Analyst downgrades, management changes	Reduce 25%	Preserve capital while monitoring
Orange	Audit issues, regulatory investigation	Reduce 50%	Significant risk elevation
Red	Auditor resignation, funding concerns	EXIT COMPLETELY	Reputation risk in Singapore too high

The Cost of Thumb-Sucking:

Investors who acted at Yellow level: Lost 15%
Investors who acted at Orange level: Lost 45%
Investors who thumb-sucked through Red level: Lost 95%+

Scenario 5: The REITs Interest Rate Environment – Acting on Known Concerns

The Observation (Late 2021): Singapore REIT investors noticed:

Inflation rising globally after years of low levels
Central banks signaling policy normalization
Singapore REITs trading at historically high valuations
Government indicating potential interest rate increases

The Systematic Analysis:

Step 1: Interest Rate Sensitivity Assessment

Singapore REITs Vulnerability Matrix:
High Debt REITs (Gearing >40%): Highest risk
Retail REITs: Demand + interest rate double impact
Industrial REITs: Moderate risk with growth potential
Healthcare REITs: Defensive but rate-sensitive

Step 2: Portfolio Positioning Strategy

Phase 1 (Q4 2021): Early Warning

Action: Reduce REIT allocation from 25% to 15% of portfolio
Focus: Exit highest-geared and most vulnerable REITs
Rationale: Preserve capital before broader market recognition

Phase 2 (Q1 2022): Policy Confirmation

Trigger: Fed begins rate hiking cycle, MAS tightens policy
Action: Further reduce to 8% allocation
Selection: Keep only highest-quality REITs with strong fundamentals

Validation Results:

S-REITs index declined 25% from peak to trough (2022-2023)
Investors who reduced early preserved 15-20% vs buy-and-hold

Building Your Personal Investment System: The Singapore Framework

Daily Observation Checklist

Morning Routine (5 minutes):

Government Policy Scan: Check MAS, MTI announcements
Local Business Activity: Notice changes in services you use
Regional Trends: Monitor Southeast Asian market developments

Weekly Analysis (30 minutes):

Portfolio Health Check: Review holdings against new information
Red Flag Assessment: Systematic review of warning indicators
Opportunity Pipeline: Update list of companies to research

Monthly Deep Dive (2 hours):

Industry Evolution Tracking: Map changes in key Singapore sectors
Competitive Position Updates: Reassess company moats and challenges
Macro Environment Integration: Connect global trends to local investments

The Singapore Investor’s Decision Framework

OBSERVATION → ANALYSIS → ACTION

Step 1: What am I seeing in my daily life in Singapore?
Step 2: How does this translate to business fundamentals?
Step 3: What does this mean for my investment thesis?
Step 4: What action is required and when?

Practical Implementation: Your Investment Journal

Template for Each Observation:

Date: [Record when observation made] Company/Sector: [What you’re analyzing] Observation: [What you noticed in daily life] Analysis: [Systematic evaluation using framework] Investment Thesis Impact: [How this changes your view] Action Taken: [What you did and why] Follow-up Date: [When to reassess]

Example Entry:

Date: March 15, 2024
Company: Genting Singapore
Observation: RWS consistently crowded, new attractions opening
Analysis: Tourism recovery + new revenue streams + government support
Investment Thesis: Recovery play with structural improvements
Action: Increased position by 2% of portfolio
Follow-up: June 2024 - assess tourist arrival statistics

Risk Management Integration

Position Sizing Rules:

High Conviction + Local Knowledge: Up to 8% of portfolio
Moderate Conviction: 3-5% of portfolio
Speculative/New Thesis: Maximum 2% of portfolio

Exit Triggers:

Fundamental Deterioration: Exit 50% immediately
Thesis Invalidation: Complete exit within 30 days
Red Flag Emergence: Reduce position by 25% pending investigation

By systematically applying these frameworks to daily observations in Singapore, investors can transform casual market awareness into a significant competitive advantage, while avoiding the common pitfalls that even Warren Buffett acknowledges making.

The Coffee Shop Oracle: A Singapore Investor’s Journey

Chapter 1: The Revelation

David Tan had been drinking his morning kopi at the same coffee shop in Tanjong Pagar for fifteen years. As a mid-level bank analyst, he thought he understood markets. His portfolio, however, told a different story – flat returns while the STI had climbed steadily.

That Tuesday morning in March 2019 changed everything.

“Uncle, your usual?” asked Ah Seng, the coffee shop owner.

“Ya, but make it takeaway today,” David replied, scrolling through his phone. “Meeting at 9.”

As he waited, David noticed something odd. The queue at the coffee shop’s new digital payment terminal was longer than the cash line. Elderly uncles and aunties were confidently tapping their phones, muttering “PayLah” and “GrabPay” with the same ease they once counted coins.

His analyst brain kicked in. If my 70-year-old neighbor is using DBS PayLah, what does that mean for digital adoption rates?

That evening, David pulled up DBS’s latest quarterly report. Digital transaction volumes: up 45% year-on-year. Mobile banking adoption: 87% of customer base. Regional digital banking expansion: ahead of schedule.

He had been using DBS’s superior mobile app for two years, yet owned OCBC shares because they were “cheaper” by P/E ratio. Warren Buffett’s words from a recent interview echoed: his biggest mistakes were the opportunities he failed to recognize, not the bad stocks he bought.

David opened his trading app and made his first systematic investment decision: sold his OCBC position and bought DBS.

Chapter 2: The Framework Forms

Six months later, David’s DBS shares were up 18% while OCBC lagged. But it was the process that excited him, not just the returns.

He started what he called his “Coffee Shop Journal” – a simple notebook where he recorded daily observations during his morning routine:

October 15, 2019 Observation: Grab car arrived 2 minutes earlier than estimated. Driver mentioned new pickup optimization. Analysis: If Grab’s efficiency is improving, what about their unit economics? Action: Research Grab IPO rumors

November 3, 2019
Observation: CapitaLand mall has three new “experience” stores – VR gaming, cooking classes, pet cafe. Traditional retail space shrinking. Analysis: Mall operators adapting to e-commerce threat. Experience economy growing. Action: Review CapitaLand vs pure retail plays

December 8, 2019 Observation: Shopee delivery boxes everywhere in HDB estate. Even my neighbor’s 65-year-old mum ordering groceries online. Analysis: E-commerce adoption accelerating across demographics Action: Research Sea Limited ahead of listing

Chapter 3: The First Test

January 2020 brought David’s first real test. His portfolio was concentrated in three themes: digital banking (DBS), regional e-commerce (Sea Limited, newly listed), and experiential retail (CapitaLand).

Then COVID-19 hit Singapore.

As markets crashed in March, David watched his paper profits evaporate. His colleague Jenny panicked: “Everything’s falling! Should we sell everything?”

But David’s coffee shop was still operating, albeit with safe distancing. And what he observed there strengthened his conviction:

Contactless payments went from 40% to 90% of transactions overnight
Food delivery drivers arrived every few minutes
People used banking apps to avoid physical branches

March 25, 2020 – Journal Entry Observation: Crisis accelerating digital adoption by 2-3 years. My investment themes aren’t broken – they’re being turbo-charged. Analysis: Temporary price decline vs structural demand increase Action: Double down. Bought more DBS at $22, Sea at $85

Jenny thought he was crazy. “You’re buying while everything’s collapsing?”

“I’m buying because everything’s accelerating,” David replied.

Chapter 4: The Red Flag Test

By June 2021, David felt like a genius. His portfolio was up 85% from the March lows. DBS hit new highs. Sea Limited soared past $300. Even his CapitaLand REITs had recovered strongly.

That’s when he faced his first major red flag test.

June 15, 2021 – Journal Entry Observation: China cracking down on tech companies. Sea’s gaming revenue depends heavily on mainland China. Red Flag Level: ORANGE – Regulatory risk to core business Action: Reduce Sea position by 25% immediately

His heart wanted to hold. Sea was his biggest winner. But his framework was clear: orange flags meant immediate action.

Two weeks later, Beijing banned Garena Free Fire in China. Sea’s shares plummeted 15% in a day.

“Lucky you reduced,” Jenny said. “How did you know?”

“I didn’t know,” David admitted. “I just followed the rules I set when I could think clearly.”

Chapter 5: The Thesis Invalidation

October 2021 brought David’s most painful lesson yet.

His newest investment was ComfortDelGro, Singapore’s dominant taxi and bus operator. His thesis: as Singapore reopened, transport demand would surge, and the company’s app-based services would compete with Grab.

October 20, 2021 – Journal Entry Observation: Despite reopening, taxi demand still weak. More people WFH permanently. ComfortDelGro’s app clunky compared to Grab. Analysis: Original thesis assumes return to pre-COVID normal. Not happening. Decision: THESIS INVALIDATED Action: Complete exit within 30 days

It hurt. ComfortDelGro was down 12% from his purchase price. Every fiber wanted to “wait for recovery.” But his framework was explicit: thesis invalidation meant complete exit.

David sold everything within a week. Three months later, ComfortDelGro announced service cuts and restructuring. The stock fell another 20%.

Chapter 6: The Fundamental Deterioration

March 2022 brought the hardest test of all.

Interest rates were rising globally. Singapore REITs, including his CapitaLand positions, were under pressure. But David’s framework distinguished between temporary headwinds and fundamental deterioration.

Then came the news that shook him: CapitaLand announced a major tenant – a department store chain – was closing permanently. Occupancy rates at several malls dropped below 85%.

March 18, 2022 – Journal Entry Observation: Key tenant closure + rising rates + changing retail patterns Analysis: Not just cyclical headwinds. Fundamental business model under threat. Assessment: FUNDAMENTAL DETERIORATION Action: Exit 50% of REIT positions immediately

This wasn’t thesis invalidation – REITs could adapt. But the fundamentals were clearly weakening. His framework demanded immediate action.

The remaining 50% he held gave him optionality if the situation improved, while the 50% exit protected his capital. Over the next six months, Singapore REITs fell another 18%.

Chapter 7: The Compounding Wisdom

By December 2022, David’s systematic approach had been tested through multiple market cycles. His coffee shop observations had evolved into a sophisticated investment process:

Morning Routine (5 minutes at coffee shop):

Government policy scan on phone
Observe local business changes
Note consumer behavior shifts

Evening Analysis (15 minutes):

Journal entry on key observations
Red flag assessment for existing holdings
Update opportunity pipeline

Weekend Deep Dive (1 hour):

Connect observations to investment themes
Review framework adherence
Plan upcoming position adjustments

His returns spoke for themselves: 12% annualized over four years, versus 6% for the STI. But more importantly, he had avoided the major blow-ups that destroyed other portfolios.

Epilogue: The Coffee Shop Oracle

“David, you’ve become famous at the coffee shop,” Ah Seng laughed one morning in 2024. “People call you the ‘Coffee Shop Oracle’ – always watching, always thinking about money.”

David smiled, sipping his kopi. Around him, the usual morning bustle continued. A food delivery rider picked up an order. An elderly man paid with his phone. A construction worker discussed cryptocurrency with his friend.

Each observation was data. Each data point was opportunity. Each opportunity was filtered through his hard-earned framework.

Jenny, now a convert to systematic investing, joined him for coffee. “So what are you seeing today, Oracle?”

David pointed to a corner where several people were trying out AR glasses at a new tech retail pop-up. “Augmented reality in mass market retail. Government pushing digital innovation. Singapore as regional tech hub.”

“New investment theme?” Jenny asked.

“Maybe,” David replied, pulling out his journal. “But first, let me write down what I’m actually observing, not what I want to see.”

He had learned the hardest lesson of all: the difference between systematic observation and wishful thinking. His coffee shop hadn’t just taught him about markets – it had taught him about himself.

The framework lived because it forced honest self-assessment. Red flags demanded action regardless of emotions. Thesis invalidations required exits despite hope. Fundamental deterioration meant capital preservation over pride.

As he walked to work, David reflected on Warren Buffett’s admission: even legends make mistakes. The key was having systems to recognize them early and rules to act decisively.

His phone buzzed with a news alert. Another policy announcement from MAS about digital banking regulations. David made a mental note to research the implications during his evening analysis session.

The coffee shop oracle was always watching, always learning, always adapting. And in Singapore’s fast-changing economy, that systematic approach had become his greatest competitive advantage.

The End

Lessons from the Coffee Shop Oracle

David’s journey illustrates how Warren Buffett’s acknowledged mistakes can be transformed into systematic investment advantages:

Mistake 1 (Value Traps): David avoided buying “cheap” stocks without understanding industry dynamics
Mistake 2 (Missed Opportunities): He translated daily observations into investment insights
Mistake 3 (Thumb-Sucking): His framework forced decisive action on red flags

The real lesson: Great investing isn’t about being right all the time. It’s about having systems that help you be wrong less catastrophically and right more profitably.

In Singapore’s unique market environment, local knowledge combined with systematic frameworks can create sustainable competitive advantages – one coffee shop observation at a time.

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Warren Buffett’s Three Key Investing Mistakes