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?
Interpretation
The quote emphasizes the importance of authenticity over reputation in achieving true success.
Warren Buffett poses a thought-provoking question regarding the true nature of success. He suggests that it is more valuable to be recognized for your actual accomplishments, even if they are not publicly acknowledged, rather than being falsely perceived as successful. This highlights the significance of one's true abilities and results over external perceptions and societal approval.
In practice
In a business meeting discussing company culture, someone might quote Buffett to emphasize valuing integrity over external accolades.
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.
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.
Accounting is the language of business.
Some people are just born stars – you either have it or you haven’t, and I was definitely born one.
I'm not going to get somewhere and say, 'OK, I'm done.' Success is never final; I'll just keep on going. The same way as failure never being fatal. Just keep going. I'm going to the stars and then past them.
There has never been a great athlete who died not knowing what pain is.
I like trying to win. That's what golf is all about.
The satisfaction to be derived from success in a great constructive enterprise is one of the most massive that life has to offer.
I always looked up there, because I remember a time when the only things on the walls in Fenway were the Jimmy Fund sign and the retired numbers. Never in a million years did you think you'd ever be up there with those guys.
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