Crude hasn't been responding to fundamentals all year. I think crude has been 8 to 10 overvalued for some time and has been responding to the fear of what could happen rather than the reality of what is happening.
The toughest are people mistakes, when you put the wrong person in a job. Sometimes you're too slow to move them out. Or not getting the right people involved to solve a problem, or doing something out of anger; you learn, just don't do that. But I'd have to say the Whale was one of them, and I would also have to put Bear Stearns and Washington Mutual on the list at this point.