Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.
Interpretation
Credit worthiness, once lost, is difficult to regain, suggesting it should be treated with care.
Warren Buffett's quote draws a parallel between credit worthiness and virginity, emphasizing that both are states of being that, once compromised, are challenging to restore. Just as one should be cautious about losing their virginity, individuals and organizations should approach their credit reputation with seriousness and responsibility, as reckless decisions can have long-lasting negative effects.
In practice
This quote can be shared during financial literacy workshops to emphasize the importance of maintaining a good credit score.
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.
The difference between tax avoidance and tax evasion is the thickness of a prison wall.
Although it's easy to forget sometimes, a share is not a lottery ticket... it's part-ownership of a business.
Your most expensive advice is the free advice you receive from your financially struggling friends and relatives.
Working for company X and having a substantial portion of your retirement plan in company X is simply exposing yourself to too much risk, because the company is both your employer and the source of your retirement income. So if something goes wrong, you lose both your job and your retirement plan.
The first step in taking control of your money is to stop borrowing money. Start using cash today.
Just because a stock is down doesn't mean it's a great buy.
Subscribe for the occasional hand-picked quote. No noise.