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, itβs 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.
Oneβs objective should be to get it right, get it quick, get it out and get it over. Your problem wonβt improve with age.
Accounting is the language of business.
When one has the feeling of dislike for evil, when one feels tranquil, one finds pleasure in listening to good teachings; when one has these feelings and appreciates them, one is free of fear.
You need not aspire for or get any new state. Get rid of your present thoughts, that is all.
the writing of some men is like a vast bridge that carries you over the many things that claw and tear. The Wine of Forever
Speak only the speech that neither torments self nor does harm to others. That speech is truly well spoken.
I've learned that you have to stay true to yourself from all the amazing people I've had the opportunity to work with thus far. You have to stay true to yourself and don't be afraid even though people may say what you're doing isn't cool or isn't right. I promise you, you will not regret it if you stay true to who you are and what you love to do because there is no other reason that I am up here today receiving this award.
If you're respectful by habit, constantly honoring the worthy, four things increase: long life, beauty, happiness, strength.
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