The best thing I did was choose the right heroes.
Interpretation
Choosing the right role models can significantly influence one's path to success.
Warren Buffett highlights the importance of selecting the right heroes or role models in one's life. This choice can lead to valuable lessons, inspiration, and guidance that shape an individual’s decisions and ultimately their success in various endeavors.
In practice
Using this quote in a motivational speech to emphasize the impact of mentorship.
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.
Good judgment comes from experience, and a lot of that comes from bad judgment.
It is easy to be pleasant when life flows by like a song, but the man worth while is the one who will smile when everything goes dead wrong. For the test of the heart is trouble, and it always comes with years, and the smile that is worth the praises of earth is the smile that shines through the tears.
I expect you have seen someone put a a lighted match to a bit of newspaper which is propped up in a grate against an unlit fire. And for a second nothing seems to have happened; and then you notice a tiny steak of flame creeping along the edged of the newspaper. It was like that now.
Focus on the moment, not the monsters that may or may not be up ahead.
If wisdom were offered me with this restriction, that I should keep it close and not communicate it, I would refuse the gift.
Creative scientists and saints expect revelation and do not fear it. Neither do children. But as we grow up and we are hurt, we learned not to trust.
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