St. Elias Mines

Buffet probably did say "Know when to cut your losses".

But I am pretty sure he didn't say to sell when the stock has loss 95% of its equity. Might as well hold at this price.

Buffet had lots of rules that he plays buy. However the last rule in his rule book is "Know when to break your own rules". LOL This is a fact that came from his mouth. I saw it on a documentry.