Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
Interpretation
True wealth lies not in possessions, but in the value of friendships.
Warren Buffett emphasizes that material possessions can become burdensome and can control a person instead of providing true happiness or fulfillment. He advocates for valuing friendships, which he considers to be far more important than any physical assets, asserting that health and meaningful relationships are what truly contribute to a rich and rewarding life.
In practice
During a speech about success, you might use this quote to highlight the importance of relationships over material wealth.
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.
The heart may think it knows better: the senses know that absence blots people out. We really have no absent friends. The friend becomes a traitor by breaking, however unwillingly or sadly, out of our own zone: a hard judgment is passed on him, for all the pleas of the heart.
"Stay" is a charming word in a friend's vocabulary.
All things are in common among friends.
I don't have many friends; I'm very much a loner. As a child I was very isolated and I've never been really close to anyone.
Every man has frequent grievances which only the solicitude of friendship will discover and remedy, and which would remain for ever unheeded in the mighty heap of human calamity, were it only surveyed by the eye of general benevolence equally attentive to every misery.
To this day, some of my closest friends say, 'Gaga, you know, everything's great. You're a singer; your dreams have come true.' But, still, when certain things are said to you over and over again as you're growing up, it stays with you and you wonder if they're true.
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