You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right - that's the only thing that makes you right. And if your facts and reasoning are right, you don't have to worry about anybody else.
Interpretation
Your correctness is determined by facts and reasoning, not by popular opinion.
In this quote, Warren Buffett emphasizes that the validity of our beliefs should be based on factual evidence and logical reasoning rather than the agreement of others. He suggests that true confidence comes from grounded knowledge, which liberates individuals from the pressure of seeking approval or consensus from the crowd. The focus should be on ensuring that one’s views are substantiated by truth and clarity, rather than swayed by public opinion.
In practice
This quote can be used in a debate about the importance of evidence-based arguments.
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.
Put least trust in him who is foremost to praise you, nor judge of a road till it draw to the end.
Regret is useless in life. It's in the past. All we have is now.
...when we are comfortable and inattentive, we run the risk of committing grave injustices absentmindedly.
Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives, the cumulative experience of many masters of craftsmanship. Quality also marks the search for an ideal after necessity has been satisfied and mere usefulness achieved.
There is no mistake; there has been no mistake; and there shall be no mistake.
The technique of positive thinking is not a technique that transforms you. It is simply repressing the negative aspects of your personality. It is a method of choice. It cannot help awareness; it goes against awareness. Awareness is always choiceless.
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