The best asset is your own self. You can become to an enormous degree the person you want to be
Interpretation
The most valuable thing you possess is yourself, and you have the power to shape your identity and future.
Warren Buffett emphasizes the intrinsic value of self-improvement and personal growth. He suggests that the greatest investment one can make is in oneself, urging individuals to realize their potential and actively work towards becoming the person they aspire to be. By harnessing self-awareness and ambition, one can achieve significant transformations in life.
In practice
During a motivational speech at a conference, to inspire attendees to invest in their personal growth.
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.
Integrity is at the heart of commerce in the world in which we live. Honesty and integrity comprise the very underpinnings of society.....Indeed, the strength and safety of any organization-including the family-lie in the integrity of its members. Without personal integrity, there can be no confidence. Without confidence, there can be no prospect of permanent success.
If the company depends entirely on you - your creativity, ingenuity, inspiration, salesmanship or charisma - nobody will want to buy it. The risk and the dependency are too great.
The secret of successful retailing is to give your customers what they want
The fans had become used to looking toward the scoreboard whenever a gymnast stuck a landing. You could tell they were thinking, 'Was that good enough? Would the numbers read 10.00?' The athlete was looking, too.
It is on our failures that we base a new and different and better success.
Excellence is doing ordinary things extraordinarily well.
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