If principles can become dated, they're not principles.
Interpretation
True principles are timeless and should not change with trends.
Warren Buffett emphasizes the idea that genuine principles should be constant and reliable, regardless of the changing circumstances or societal trends. If something is labeled as a principle but can be easily altered or discarded over time, then it doesn't hold the necessary foundational quality that true principles possess.
In practice
During a speech about ethical business practices.
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.
One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.
All central beliefs on human matters spring from a personal predicament.
It is only in alert silence that truth can be.
Every act of disobedience committed due to passion, its forgiveness is hoped for. Every act of disobedience committed due to arrogance, its forgiveness is not hoped for because the root of Satan’s disobedience was arrogance, whereas the root of Adam’s lapse was passion.
The cosmos doesn’t measure sweat and hours for reward. The cosmos deals in the currencies of joy and satisfaction.
Does Big Brother exist?" "Of course he exists. The Party exists. Big Brother is the embodiment of the Party." "Does he exist in the same way as I exist?" "You do not exist.
It is not an act of kindness to treat animals respectfully. It is an act of justice.
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