Never lie under any circumstances.
Interpretation
Honesty is vital and should be maintained at all times, regardless of the situation.
Warren Buffett's quote emphasizes the importance of honesty and integrity. It suggests that lying can compromise one's character and reputation, and that being truthful should be a non-negotiable principle in both personal and professional life. Upholding honesty fosters trust and respect, which are essential for meaningful relationships and success.
In practice
In a business meeting when discussing the importance of transparency among colleagues.
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.
[T]he values to which people cling most stubbornly under inappropriate conditions are those values that were previously the source of their greatest triumphs.
Fear of commitment lies behind the fear of writing.
If magistrates had true justice, and if physicians had the true art of healing, they would have no occasion for square caps; the majesty of these sciences would itself be venerable enough.
Good habits are not made on birthdays, nor Christian character at the new year. The vision may dawn, the dream may waken, the heart may leap with a new inspiration on some mountain-top, but the test, the triumph, is at the foot of the mountain, on the level plain. The workshop of character is every-day life. The uneventful and commonplace hour is where the battle is won or lost.
To dwell in the here and now does not mean you never think about the past or responsibly plan for the future. The idea is simply not to allow yourself to get lost in regrets about the past or worries about the future. If you are firmly grounded in the present moment, the past can be an object of inquiry, the object of your mindfulness and concentration. You can attain many insights by looking into the past. But you are still grounded in the present moment.
I'm on the record for five losses or something like that, but the one guy who really whipped me was Muhammad Ali. And it taught me one big lesson. That no matter how big and strong you are, you're going to have to use your mind. You must think things out.
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