Charlie Munger:
Mistakes of omission are the most troubling.
They show up as lost opportunity costs, and we are mistaken not to take advantage of these opportunities. What really cost are these blown opportunities.
Warren Buffett:
Errors of omission…can happen when we stand
and stare at an opportunity and do nothing with it. It is important to know the business and the opportunity because conventional accounting
does not identify lost opportunities.
Mistakes of omission are the most troubling.
They show up as lost opportunity costs, and we are mistaken not to take advantage of these opportunities. What really cost are these blown opportunities.
Warren Buffett:
Errors of omission…can happen when we stand
and stare at an opportunity and do nothing with it. It is important to know the business and the opportunity because conventional accounting
does not identify lost opportunities.
Berkshire Hathaway's Annual Stockholder Meeting
Saturday, April 28, 2001
Saturday, April 28, 2001
Opportunities are a highly valuable raw material, present themselves everyday during construction, and cannot be measured if missed. That’s why many of the great courses were the first by the architect, or done early in their career. Their time wasn’t divided by multiple projects…so they had the time to seize every opportunity. They maximized the use of this valuable raw material.
The 6th Hole is undergoing a transformation due to opportunities that were not foreseen during planning. Originally an open expanse of two fairways, we have chosen some concepts will improve the hole, reduce construction costs, and speed up the production of the hole (even though we have to truck in a meter thick layer of sand to cap about 300 meters (330 yards) by 55 meters (60 yards) of fairway).
What we will have now is a version of a Dyke Wall running diagonally through the hole. The green concept is also altered. Once a not so deep green tight to the dyke wall behind the will now be separated from it and the green lengthened. The deeper green will accept a longer bounced in approach. Between the back of the green and the dyke along the river will be a bunker to stop shots from bounding over the green and into long grass or the river.
Well, that’s where we stand now. As we build and are standing over construction, we have the flexibility of a speed boat…able to turn on a dime…see things from every angle, think about all the opportunities that occur every day of construction, and adjust when it is advantageous. And these changes are not isolated, as these facilitate changes to other holes in the vicinity.
Tony Ristola
agolfarchitect.com
+1 (909) 581 0080
