Other guys read Playboy. I read annual reports.
Interpretation
This quote emphasizes the value of diligent research and informed decision-making over superficial indulgence.
Warren Buffett, a renowned investor, contrasts his approach to financial understanding with that of many others who might engage in more frivolous pursuits. By choosing to read annual reports, he highlights the importance of thoroughly analyzing a company’s performance and fundamentals to make informed investment decisions. This reflects his belief that success in investing requires a commitment to in-depth knowledge rather than mere entertainment.
In practice
In a financial seminar, you might quote Buffett to emphasize the importance of thorough research in 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.
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.
May you grow up to be righteous, may you grow up to be true. May you always know the truth and see the lights surrounding you. May you always be courageous, stand upright and be strong. May you stay forever young.
To congratulate oneself on one's warm commitment to the environment, or to peace, or to the oppressed, and think no more is a profound moral fault.
Confidence is 10 percent hard work and 90 percent delusion.
Madness in method, that's genius
In order to taste my cup of water you must first empty your cup.
It sounds kind of crazy, but in times of turmoil in the market, I've felt a sort of serenity in knowing that I've checked and re-checked my work, one plus one still equals two regardless of where a stock trades right after I buy it.
Subscribe for the occasional hand-picked quote. No noise.