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.
A well-made Martini or Gibson, correctly chilled and nicely served, has been more often my true friend than any two-legged creature.
There can be no Friendship where there is no Freedom. Friendship loves a free Air, and will not be penned up in straight and narrow Enclosures. It will speak freely, and act so too; and take nothing ill where no ill is meant; nay, where it is, 'twill easily forgive, and forget too, upon small Acknowledgments.
You that would judge me, do not judge alone this book or that, come to this hallowed place where my friends' portraits hang and look thereon; Ireland's history in their lineaments trace; think where man's glory most begins and ends and say my glory was I had such friends.
Everything is connected. Surfing is a solitary sport. But I can tell you that some of the most amazing things I've done surfing have come from being a part of a tribe.
Do not desert a friend in time of need, nor forsake him nor fail him, for friendship is the support of life. Let us then bear our burdens as the Apostle has taught (cf. Gal. 6:2): for he spoke to those whom the charity of the same one body had embraced together. If friends in prosperity help friends, why do they not also in times of adversity offer their support? Let us aid by giving counsel, let us offer our best endeavors, let us sympathize with them with all our heart.
A true friend is the most precious of all possessions and the one we take the least thought about acquiring.
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