Basically, when you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you.
Interpretation
True success is defined by the love and relationships we cultivate in our lives.
Warren Buffett emphasizes that as we grow older, the measure of success shifts from material achievements to the quality of our relationships. He suggests that the love we receive from those we value is the true indicator of a fulfilled life, highlighting the importance of emotional connections over conventional markers of success.
In practice
In a graduation speech to inspire students to focus on relationships over material success.
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.
Developing expertise or assets that are not easily copied is essential; otherwise you're just a middleman.
Vision without execution is daydreaming.
The only way to consistently grow in B2B is to be better than very good.
In the business world, I did fairly well, but wasn't happy. A bout of sciatica put me flat on my back. All I could do was read, listen to my mother's stories about the Sandovals, and daydream: a return to self. My writing career had begun.
Ambition is the last refuge of the failure.
I could never have ridden 4,000 winners without loving my job, and If I ever get to the point where I'm not loving it, I'll stop.
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