Our favorite holding period is forever.
Interpretation
Investing wisely means holding onto valuable assets for the long term.
Warren Buffett emphasizes the importance of long-term investments in this quote. By stating that his favorite holding period is 'forever', he suggests that true value in investing comes from patience and a commitment to nurturing one's investments over time rather than seeking quick profits.
In practice
During a financial seminar to emphasize the value of patient investing.
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.
Nobody ever thinks that the work they're going to do could ever be bigger than the one they do before, especially if you're lucky enough like I had to have such a huge thing as 'Phantom' was.
If I have positions going against me, I get right out; if they are going for me, I keep them Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.
The Big Dream of any entrepreneur really has very little to do with the entrepreneur. If you truly love repairing automobiles, chances are, you'll be a lousy business owner. Likewise, if you are fascinated by debits and credits, the dream of building an accounting firm with you at the helm is probably best left unfulfilled.
I don't deserve a Songwriters Hall of Fame Award. But fifteen years ago, I had a brain operation and I didn't deserve that, either. So I'll keep it.
The guys that improve every year are those that are always adding something to their game.
I've had enough success for two lifetimes, My success is talent put together with hard work and luck.
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