OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.
Interpretation
The quote critiques the concept of shared sacrifice among leaders while highlighting a divide between the wealthy and the average citizen.
In this quote, Warren Buffett points out the hypocrisy in leadership calls for 'shared sacrifice' in difficult times, suggesting that while leaders promote this idea, they themselves, along with the wealthy elite, often remain unaffected by the burdens being asked of others. This highlights an issue of inequality and the lack of accountability among those in power.
In practice
During a speech on economic reforms, one might reference this quote to discuss the responsibility of leaders.
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.
When individual members of the team are highly disciplined, they can be trusted and, therefore, allowed to operate with very little oversight.
I have some strategical vision, I could calculate some few moves ahead and I have an intellect that is badly missed in the country which is run by generals and colonels.
When you look at the development of the American presidency, you see that the presidents who have had the greatest impact are the ones who fit their times most successfully.
Most executives I know are so action-oriented, or action-addicted, that time for reflection is the first casualty of their success.
There is a long history of founders returning to companies and doing great things. Founders are able to set the vision for their companies with an authority no one else can.
Being president is like running a cemetery: you've got a lot of people under you and nobody's listening.
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