Do you think the bible is often mistranslated?

It is viewed by some as just another piece of literature to be yzed and scrutinized as any piece of literature would be. Many of the words had no real english translation, so some meaning gets lost. The Red Sea for instance, does not exist, it is the Reed Sea. The bible has been translated so many times that there is no wonder there are so many denominations. Everyone interprets it differently. Some believe it is a guide line for how you should live your life and some take it literally.