I made my first investment at age eleven. I was wasting my life up until then.
Interpretation
Investing early can lead to greater success in life.
Warren Buffett emphasizes the importance of starting investments at a young age, suggesting that he felt unproductive until he began his journey into investing. This highlights the value of financial literacy and proactive planning for one's future.
In practice
In a seminar about financial planning, you could use this quote to encourage young investors.
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.
If you have no family or friends to aid you . . . turn your face to the Great West and there build up your home and fortune.
It is more difficult to stay on top than to get there.
I was probably born a scorer, but I was made a winner. Whatever works, whatever wins championships, wins games, that's what I do.
I don't think I have achieved anything that I can really be proud of.
Winning games, titles and championships isn't all it's cracked up to be, but getting there, the journey, is a lot more than it's cracked up to be.
I have turned down a lot of money for things that would have made me feel cheesy.
Subscribe for the occasional hand-picked quote. No noise.