Things you like to do should be a hobby of yours, but things the world does should be a business of yours.
Interpretation
Pursue your passions as hobbies, but engage in the important matters of the world as your responsibility.
Warren Buffett emphasizes the distinction between personal interests and broader societal responsibilities. While it is important to enjoy activities and pursuits as hobbies, one should also take an active role in addressing the critical issues and challenges faced by the world, treating them as a business endeavor rather than mere interests.
In practice
In a motivational speech about pursuing careers, one might quote Buffett to inspire others to balance personal enjoyment with social impact.
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.
If men possessed wisdom, which stands in the same relation to the form of man as the sight to the eye, they would not cause any injury to themselves or to others; for the knowledge of truth removes hatred and quarrels, and prevents mutual injuries.
If you have something about yourself that's different, you're lucky. It's not a curse.
Character is property. It is the noblest of possessions.
Sometimes when things seem to be going wrong, they are going right for reasons you are yet to understand.
If there are people at once rich and content, be assured that they are content because they know how to be so, not because they are rich
Our actions are in our own hands, but the consequences of them are not. Remember that, my dear, and think twice before you do anything.
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