In the search [of a deal], we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.
Interpretation
Approaching deals should be done with the same care and patience as finding a life partner.
Warren Buffett emphasizes the importance of taking a thoughtful and measured approach when seeking a deal, similar to the way one would approach the search for a spouse. He suggests that being proactive, engaged, and open to possibilities is beneficial, yet rushing the process can lead to unsatisfactory outcomes.
In practice
This quote can be used to encourage patience in business negotiations during a seminar.
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.
If I didn't know the ending of a story, I wouldn't begin. I always write my last lines, my last paragraph first, and then I go back and work towards it. I know where I'm going. I know what my goal is. And how I get there is God's grace.
I think we all have a little voice inside us that will guide us. It may be God, I don't know. But I think that if we shut out all the noise and clutter from our lives and listen to that voice, it will tell us the right thing to do.
Remind yourself that the greatest technique for bringing peace into your life is to always choose being kind when you have a choice between being right or being kind.
My folks tried to make a preacher of me and missed by a narrow margin… I would have made a good one if I hadn’t fallen into the fatal folly of reading anything I could lay hands on. With just a touch more self confidence and a liberal helping of ignorance I could have been a famous evangelist.
There [is] no innocence more dangerous than the innocence of age.
I shall the effect of this good lesson keeps as watchman to my heart.
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