I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.
Interpretation
Taking time to reflect is essential for effective decision-making and personal growth.
Warren Buffett highlights the importance of dedicating time to think and reflect, a practice that is often overlooked in the fast-paced world of American business. This quote suggests that thoughtful contemplation can lead to better decisions and insights, underscoring that the act of sitting quietly to ponder is a valuable habit in both business and life.
In practice
This quote can be used during a corporate retreat to emphasize the value of strategic thinking.
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.
Oneβs objective should be to get it right, get it quick, get it out and get it over. Your problem wonβt improve with age.
There are no dangerous thoughts; thinking itself is dangerous.
Give a man a fish and he will eat for a day; teach a man to fish and he will eat for a lifetime; give a man religion and he will die praying for a fish.
Sometimes early in my career I thought what I did was who I was. As you mature, I've learned that is not the case. This is what I do, this is not who I am.
I tell you, hopeless grief is passionless.
Our brains are very, very good at self-delusion. What happens is, it releases the stress hormone cortisol in the brain, which leads to foggy thinking, so you're not even able to judge well whether you're working well or not.
Eat bitter, taste sweet," Frank said. "I hate that proverb." "But it's true. What do they call it these days---no pain, no gain? Same concept. You do the easy thing, the appealing thing, the peaceful thing, mostly it turns out sour in the end. But if you take the hard path---ah, that's how you reap the sweet rewards. Duty. Sacrifice. They mean something.
Subscribe for the occasional hand-picked quote. No noise.