I have no idea on timing. It’s easier to tell what will happen than when it will happen. I would say that what is going on in terms of trade policy is going to have very important consequences.
Interpretation
Understanding the unpredictability of timing can guide our decisions and expectations.
Warren Buffett highlights the challenge of predicting not just the outcomes of events, but also their timing, particularly in complex areas such as trade policy. This insight reminds us that while we can make educated guesses about the future, the exact moment when those changes will materialize is often uncertain, emphasizing the need for patience and strategic thinking.
In practice
In a financial seminar discussing market predictions, this quote can emphasize the unpredictability of economic outcomes.
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.
Stars burn clear all night till dawn. Do that yourself, and a spring will rise in the dark with water your deepest thirst is for.
Slow thinking has the feeling of something you do. It's deliberate.
The master was an old Turtle--we used to call him Tortoise--' Why did you call him Tortoise, if he wasn't one?' Alice asked. We called him Tortoise because he taught us,' said the Mock Turtle angrily; 'really you are very dull!' You ought to be ashamed of yourself for asking such a simple question,' added the Gryphon; and then they both sat silent and looked at poor Alice, who felt ready to sink into the earth.
If you hear on the weather report that it's going to rain tomorrow, rather than reminding yourself to bring your umbrella, set the umbrella by the front door - now the environment is reminding you to bring the umbrella.
One can never read too little of bad, or too much of good books: bad books are intellectual poison; they destroy the mind. In order to read what is good one must make it a condition never to read what is bad; for life is short, and both time and strength limited.
When there's no place for the scalpel, words are the surgeon's only tool.
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