Cash combined with courage in a time of crisis is priceless.
Interpretation
The combination of financial resources and bravery can be invaluable during challenging times.
Warren Buffett's quote underscores the importance of not only having cash or financial resources but also the courage to use them wisely during difficult situations. In moments of crisis, the ability to act decisively and bravely, armed with the necessary resources, can lead to opportunities and solutions that would otherwise be missed. This quote emphasizes that wealth alone is insufficient without the courage to leverage it effectively.
In practice
During a business conference when discussing the importance of taking risks.
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.
All that I am ... I owe to the Air Force.
Look for me in the whirlwind or the storm.
Our union represents a breaking away...represents sharing a power, represent questioning, represents a new force...however long it takes, we are geared for a struggle.
Limits, like fear, is often an illusion.
It's tough, acting. You have to walk two lines of a tightrope. There's the all-consuming fear of failure: I'm about to fall flat on my face. There's that and there's also confidence - you have to be confident in order to try things - and they fight each other all the time.
You are the Master of your Fate, the Captain of your Soul.
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