An argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit? You know the prose: "Maintain buying reserves until current uncertainties are resolved," etc. Before reaching for that crutch, face up to two unpleasant facts: The future is never clear and you pay a very high price for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.
Interpretation
The quote suggests embracing uncertainty in investing rather than waiting for conditions to improve.
Warren Buffett emphasizes the importance of recognizing that uncertainty is a constant in the investment world. Instead of waiting for clarity, which may never come, he advises investors to accept uncertainty as an ally when identifying long-term value. This perspective encourages proactive engagement in investment decisions, rather than being paralyzed by fear of the unknown.
In practice
In a financial seminar discussing investment strategies, this quote can be used to illustrate the importance of making investments despite market unpredictability.
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.
One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.
His ignorance covers the world like a blanket, and there's scarcely a hole in it anywhere.
He whose genius appears deepest and truest excels his fellows in nothing save the knack of expression; he throws out occasionally a lucky hint at truths of which every human soul is profoundly though unutterably conscious.
the knowledge of impermanence that haunts our days is their very fragrance.
Hope is necessary in every condition. The miseries of poverty, sickness and captivity would, without this comfort, be insupportable.
We can often do more for other men by trying to correct our own faults than by trying to correct theirs.
When awareness is completely balanced, communicating with the outside world is instantaneous and automatic. It happens with the touch of thought.
Subscribe for the occasional hand-picked quote. No noise.