If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.
Interpretation
Be cautious about the things you own, ensuring they bring long-term value rather than short-term satisfaction.
This quote by Warren Buffett emphasizes the importance of being thoughtful in our purchases and commitments. It suggests that if you are not willing to invest in an item for a significant amount of time, it may not be worth acquiring at all, urging us to consider the long-term implications of our choices over fleeting desires.
In practice
This quote can be used during a financial seminar to discuss smart spending habits.
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.
Theology moves back and forth between two poles, the eternal truth of its foundations and the temporal situation in which the eternal truth must be received.
In a world built on violence, one must be a revolutionary before one can be a pacifist.
He lay on his chair with his hands clasped above his paunch not reading, or sleeping, but basking like a creature gorged with existence.
In all our associations; in all our agreements let us never lose sight of this fundamental maxim - that all power was originally lodged in, and consequently is derived from, the people.
Here, everything is tragic through and through, and the will, that fain would shape a world according to its wish, at last can reach no greater satisfaction than the breaking of itself in dignified annulment.
I find only freedom in the realms of eccentricity.
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