The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.
Interpretation
Investing in education is the most valuable decision a young person can make because knowledge endures.
Warren Buffett emphasizes that the most significant investment for a young person is not monetary assets but rather the knowledge they acquire through education. He believes that while financial resources and relationships may be fleeting, the wisdom and understanding gained through learning are permanent, providing a foundation for lifelong growth and success.
In practice
In a graduation speech to inspire young graduates.
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.
One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.
We've moved from wisdom to knowledge, and now we're moving from knowledge to information, and that information is so partial – that we're creating incomplete human beings.
All that being a college coach has done, is it's reaffirmed the need to take care of our young people. They're the ones that are going to make a difference. We spend a lot of time blaming them for stuff, and not enough time mentoring them and helping them stand on their own two feet.
To teach a man how he may learn to grow independently, and for himself, is perhaps the greatest service that one man can do another.
The school-to-prison pipeline - the disproportionality that exists in handing out school discipline in schools to Black and Brown students for simple infractions - pushes kids out of classrooms and into our ever-growing system of mass incarceration.
As every parent knows, children begin life as uninhibited, unabashed explorers of the unknown. From the time we can walk and talk, we want to know what things are and how they work - we begin life as little scientists.
Thanks to my reading, I have never been caught flat-footed by any situation, never at a loss for how any problem has been addressed... It doesn't give me all the answers, but it lights what is often a dark path ahead.
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