Games are won by players who focus on the playing field -- not by those whose eyes are glued to the scoreboard.
Interpretation
Focus on the process rather than the outcome to achieve success.
Warren Buffett emphasizes the importance of concentrating on the task at hand, or the process of playing the game, instead of fixating on the end results. This approach encourages players to improve their skills and performance, fostering a mindset that values effort and dedication over mere results.
In practice
In a motivational speech to students about achieving their goals.
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.
When I'm done skating, I guarantee you that I will not look back and remember standing on the podium. I'm going to remember these days - being with the team. Training alone, in my basement. Training when everybody else is sleeping. Doing things that nobody else is doing. Digging down. Seeing what kind of character I truly have. I love that stuff.
...treasure what it means to do a day's work. It's our one and only chance to do something productive today, and it's certainly not available to someone merely because he is the high bidder. A day's work is your chance to do art, to create a gift, to do something that matters. As your work gets better and your art becomes more important, competition for your gifts will increase and you'll discover that you can be choosier about whom you give them to.
I feel like I want to take care of everyone and I also feel this terrible guilt if I am unable to. And I have felt this way ever since all this success started.
To achieve, you need thought. You have to know what you are doing and that's real power.
Once you can accept failure, you can have fun and success.
To be compared to Jackie Robinson is an enormous compliment, but I don't think it's necessarily deserved.
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