It's good to learn from your mistakes. It's better to learn from other people's mistakes.
Interpretation
Learning from others can prevent personal errors and enhance growth.
Warren Buffett emphasizes the importance of learning not just from our own failures but also from the experiences of others. This wisdom encourages us to observe and reflect on the mistakes of those around us, allowing us to avoid pitfalls and make more informed decisions in our own lives.
In practice
In a leadership workshop, to inspire attendees to embrace feedback.
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.
Stop leaving and you will arrive, Stop searching and you will see, Stop running away and you will be found.
The world is not so much in need of new thoughts as that when thought grows old and worn with usage it should, like current coin, be called in, and, from the mint of genius, reissued fresh and new.
On a spiritual level, it's as though with my sighted eye I see what's before me, and with my unsighted eye I see what's hidden. It's illuminated life more than darkened it.
You are more than you think you are. There are dimensions of your being and a potential for realization and consciousness that are not included in your concept of yourself. Your life is much deeper and broader than you conceive it to be here. What you are living is but a fractional inkling of what is really within you, what gives you life, breadth, and depth.
And the winds and the waves are always on the side of the ablest navigators.
Set your sights beyond what you can see. There is true majesty in the concept of an unseen power which can neither be measured nor weighed.
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