Not really, from my reading it means truth is a discovery process, the more mistakes you make, the closer you get to the truth, for instance, the mistakes that longs made here will probably not be made on the "next" stock they buy.
The burning match theory is more appropriate here as with most mining stocks, NAK being the most recent example, although it's still up 200% from its lows, but very few buy at that point
Although JB has made plenty of mistakes here so maybe he's getting closer to a discovery, lol