A very rich person should leave his kids enough to do anything, but not enough to do nothing.
Interpretation
Wealth should empower children, but not create dependency.
Warren Buffett's quote emphasizes the importance of balancing inheritance with personal responsibility. He suggests that while wealthy parents should provide their children with opportunities and resources to thrive, they should also instill a sense of initiative and work ethic, ensuring that their children do not become complacent or overly reliant on inherited wealth.
In practice
In a discussion about family values and financial planning.
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.
For I am my mother's daughter, and the drums of Africa still beat in my heart.
Chemo days make me tired, though it's hard to say that's because of the chemo when you have kids who have inherited their dad's usual energy level.
If you're not being pessimistic, you're not being very realistic. But I think one must always have hope, and when you have children, of course, you have no choice but to work your tail off to try and protect the future for your children. And that is infused by hope in the end.
It doesn't matter how old you are, or what you do in your life, you never stop needing your mom.
The happiest moments of my life have been the few which I have passed at home in the bosom of my family.
Even though my mom was talented and had a college degree, she lived in the era when the conventional wisdom in Dallas was that my dad worked, she was supposed to stay home and take care of the kids, and that was that. There really weren't other opportunities for her, and most of them were volunteer opportunities.
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