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.
Oneβs objective should be to get it right, get it quick, get it out and get it over. Your problem wonβt improve with age.
Familiarity confounds all traits of distinction; interest and prejudice take away the power of judging.
The bulls are my best friends." I translated to Brett. "You kill your friends?" she asked. "Always," he said in English, and laughed. "So they don't kill me.
The wretch condemn'd with life to part,_x000D_ _x000D_ Still, still on hope relies;_x000D_ _x000D_ And every pang that rends the heart_x000D_ _x000D_ Bids expectation rise.
Religion, a mediaeval form of unreason, when combined with modern weaponry becomes a real threat to our freedoms. This religious totalitarianism has caused a deadly mutation in the heart of Islam and we see the tragic consequences in Paris today.
It is time that scientists and other public intellectuals observed that the contest between faith and reason is zero-sum.
For a man's counsel cannot have equal weight or worth, when he alone has no children to risk in the general danger.
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