We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.
Interpretation
Success comes from making the right decisions rather than just being busy.
Warren Buffett's quote emphasizes the importance of making sound judgments over merely being active or busy in our endeavors. It suggests that true success is determined not by the amount of work we do, but by the quality and accuracy of our decisions, and that patience is often a part of this process.
In practice
This quote can be used in a business meeting to emphasize the value of strategic thinking.
I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.
If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. _x000D_ You need to fill your mind with various competing thoughts and decide which make sense.
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
Oneβs objective should be to get it right, get it quick, get it out and get it over. Your problem wonβt improve with age.
Don't bring your need to the marketplace, bring your skill.
In all honesty, once you become a professional, number one, you're no longer a fan. I don't root for the Dodgers, really. I just try to do the game as best I can. And the winning and the losing will take care of itself.
I've made peace with the fact that the World Cup will not define me. Yes, it would be nice to add that to what's been a very enjoyable career, but I know it won't define me as a person or cricketer.
Sound character provides the power with which a person may ride the emergencies of life instead of being overwhelmed by them. Failure is... the highway to success.
I remember being on film sets when I was younger, and only men got to do the cool action movies. So I thought, 'Maybe I'll get to produce one day and get to do cool stuff too,' which is what happened when we did 'Charlie's Angels.' Starting my production company was a big turning point for me.
Build a good name. Keep your name clean. Don't make compromises. Don't worry about making a bunch of money or being successful. Be concerned with doing good work and make the right choices and protect your work. And if you can build a good name, eventually, that name will be its own currency.
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