Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Interpretation
It's often more effective to change your situation than to try to fix problems in a bad one.
Warren Buffett's quote emphasizes the importance of recognizing when a situation is untenable and advocating for a proactive change rather than futile attempts to fix deep-rooted issues. It suggests that sometimes, especially in business or life decisions, it is more beneficial to seek new opportunities instead of expending energy on correcting problems that are unlikely to resolve satisfactorily.
In practice
In a team meeting discussing project challenges, this quote can be used to advocate for a new project approach.
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.
How can you save the world you have not seen if you can't save the community you have seen?
But now, we are becoming suspicious of the very things we have long celebrated - free markets, trade, immigration, and technological change. And all this is happening when the tide is going our way. Just as the world is opening up, America is closing down.
The dinosaurs never saw that asteroid coming. What's our excuse?
Every country should conduct its own reforms, should develop its own model, taking into account the experience of other countries, whether close neighbours or far away countries.
Dying is a matter of slapstick and pratfalls. The ageing process is not gradual or gentle. It rushes up, pushes you over and runs off laughing. No one should grow old who isn't ready to appear ridiculous.
I do genuinely believe that the political system is not linear. When it reaches a tipping point fashioned by a critical mass of opinion, the slow pace of change we're used to will no longer be the norm. I see a lot of signs every day that we're moving closer and closer to that tipping point.
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