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.
When you're given a platform, and you're allowed to perform, and someone's there to heighten you as opposed to dampen you, that's a nice feeling.
Never continue in a job you don't enjoy. If you're happy in what you're doing, you'll like yourself, you'll have inner peace. And if you have that, along with physical health, you will have had more success than you could possibly have imagined.
The ability to bounce back after a setback is the single most important trait an entrepreneurial venture can possess.
You cannot predict literary success; the only way you can possibly aim for it is to do your thing and do it well.
To create a market for your writing you have to be consistent, professional, a continuing writer - not just a one-article or a one-story or a one-book man.
I don't want to be the next Mark Spitz; I want to be the first Michael Phelps
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