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.
I guess the worst day I have had was when I had to stand up in rehab in front of my wife and daughter and say 'Hi, my name is Sam and I am an addict.'
We speak here of the challenge of the dichotomies of war and peace, violence and non-violence, racism and human dignity, oppression and repression and liberty and human rights, poverty and freedom from want.
Being in service and being involved in something that is greater than you is what makes a person complete and whole. The very first thing I ever did in terms of activism was for an anti-atom bomb rally.
Only Spartan women give birth to real men.
I believe that during these times, we should not forget that many sacrificed to regain our democracy. We cannot just keep quiet because that is what happened during martial law. Our dictator then believed that he can do anything to keep himself in power.
To act coolly, intelligently and prudently in perilous circumstances is the test of a man - and also a nation.
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