I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.
Interpretation
This quote highlights the discrepancy between societal values and the rewards given to different professions.
Warren Buffett emphasizes the irony in how society values various professions differently, suggesting that extraordinary contributions to humanity, like saving lives or teaching, garner little monetary reward compared to financial gains made from economic activities like trading. This quote provokes thought about what we prioritize and reward in our economy and challenges us to reflect on our values regarding professions that contribute to society.
In practice
This quote can be shared during a graduation speech to inspire future educators and humanitarian workers.
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.
Nothing is easier than to admit in words the truth of the universal struggle for life, or more difficult - at least I have found it so - than constantly to bear this conclusion in mind...We behold the face of nature bright with gladness...We do not see, or we forget, that the birds which are idly singing round us mostly live on insects and seeds, and are thus constantly destroying life.
You cannot stand anywhere in the universe that is outside of yourself.
By all that is sacred in our hope for the human race, I conjure those who love happiness and truth to give a fair trial to the vegetable system!
The reality is gas prices should be much more expensive then they are because we're not incorporating the true damage to the environment and the hidden costs of mining oil and transporting it to the U.S. Whenever you have an unpriced externality, you have a bit of a market failure, to the degree that eternality remains unpriced.
Strife and Confusion joined the fight, along with cruel Death, who seized one wounded man while still alive and then another man without a wound, while pulling the feet of one more corpse out from the fight. The clothes Death wore around her shoulders were dyed red with human blood.
The caged eagle become a metaphor for all forms of isolation, the ultimate in imprisonment. A zoo is prison.
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