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Reader question: Please explain “unforced error” in the following passage (Warren Buffett’s Portfolio, Now Within Reach, WSJ.com, June 24, 2009): Mr. Buffett liked oil giant ConocoPhillips (COP) enough to invest $7 billion in the stock through the end of last year, at an average price of $82.55, according to the Berkshire Hathaway annual report. Anyone buying today can get it for about $41. Mr. Buffett has conceded an ‘unforced error’ in buying this oil stock when oil prices were booming. But that doesn’t mean he has given up on it. In his last comments on the subject a few months ago, he reiterated his belief that demand for energy would remain strong. My comments: It simply means that Warren Buffet made a mistake. A mistake Mr. Buffet, of all people, could’ve avoided. At least that’s what an “unforced error” is about. I’m not getting into why Mr. Buffet, of all people, failed to avoid it, though. I know better. And so we’ll just deal with “unforced error”, which is originally a sporting term, and most popularly seen in the game of tennis. In tennis, people talk about serves and volleys, you see, and aces, winners as well as unforced errors. These are basic elements of the game that are kept as statistics – a sum up of a match in numbers – for analytic purposes. People who are good at these elements tend to be good players. | 
