All of us make mistakes, but, as Sir Winston Churchill once said, only the wise learn from them. What then can we learn from the mistakes of the world’s greatest investors?

That’s the question Michael Batnick asks in his new book, Big Mistakes: The Best Investors and Their Worst Moments. Even the most famous investors have dropped clangers; Warren Buffett, Bill Ackman, Jack Bogle, Ben Graham and John Maynard Keynes are among the legends whose mistakes the book analyses.