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.
That which in mean men we entitle patience is pale cold cowardice in noble breasts.
We can't really tell how crooked our thinking is until we line it up with the straight edge of Scripture.
The future is inherently full of discontinuities, and lessons of the past must be applied with enormous caution.
If you want me to speak for two minutes, it will take me three weeks of preparation. If you want me to speak for thirty minutes, it will take me a week to prepare. If you want me to speak for an hour, I am ready now.
The Sufis advise us to speak only after our words have managed to pass through three gates. At the first gate, we ask ourselves, 'Are these words true?' If so, we let them pass on; if not, back they go. At the second gate, we ask, 'Are the necessary?' At the last gate, we ask, 'Are they kind?'
I have never been insecure, ever, about how I look, about what I want to do with myself. My mum told me to only ever do things for myself, not for others.
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