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.
Interpretation
Money alone doesn't bring happiness, but it's better to invest it wisely rather than let others benefit from it.
In this quote, Warren Buffett emphasizes that while cash itself does not lead to true happiness, it’s more advantageous to have wealth that is actively used or invested, rather than allowing it to remain idle in the hands of others. This perspective encourages a proactive approach to managing finances and suggests that making money work for you can yield greater benefits.
In practice
During a financial literacy workshop, to illustrate the importance of investing money wisely.
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?
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.
Accounting is the language of business.
The height of foolishness is to discard an opportunity without full investigation
When I was growing up, my mother, who had been through a lot of terrible things in life, taught me that when life is tough your instinct is to close your heart. But if you can accept what happened and reach out to someone, there will always be someone less fortunate, or someone that can bring a solution and help your life.
An active mind cannot exist in an inactive body.
It is not so easy to keep silent when the silence is a lie.
It seems to me, that if people only knew how hard it was for me to endure life, they would find it easier to forgive me for all the wrong things I’ve done and all the good things that I have failed to do. And they would still find a little compassion within them to pity me.
No one knows enough to be a pessimist
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