Do not put all your eggs in one basket.
Interpretation
Diversification is crucial to minimize risk.
This quote suggests that one should not concentrate all their resources or efforts in one area, as this increases the risk of total loss. By spreading investments or efforts across different areas, one can protect themselves from significant failures and enhance their chances of success.
In practice
In a financial seminar, to emphasize the importance of diversifying investments.
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.
We can't have full knowledge all at once. We must start by believing; then afterwards we may be led on to master the evidence for ourselves.
I think, if you have enough inner resources, then you can live in isolation for long periods of time and not feel diminished by it.
You can never know everything, and part of what you know is always wrong. A portion of wisdom lies in knowing that. A portion of courage lies in going on anyway.
Direct your attention inward. Have a look inside yourself. What kind of thoughts is your mind producing? What do you feel? Direct your attention into the body. Is there any tension? Once you detect that there is a low level of unease, the background static, see in what way you are avoiding, resisting, or denying life-by denying the Now.
I mean, if 10 years from now, when you are doing something quick and dirty, you suddenly visualize that I am looking over your shoulders and say to yourself "Dijkstra would not have liked this," well, that would be enough immortality for me.
I suppose itβs comfort, perhaps a sense of self-control, doing worse things to yourself than the world will ever dare inflict.
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