Look for 3 things in a person. Intelligence, Energy, & Integrity. _x000D_ If they don't have the last one, don't even bother with the first two.
Interpretation
Choose friends and associates based on their integrity above all else.
Warren Buffett emphasizes the significance of integrity in a person's character and suggests that even highly intelligent and energetic individuals are not worth engaging with if they lack integrity. This highlights the importance of moral values and ethical behavior as foundational qualities that define one's character and relationship with others.
In practice
In a job interview, you might quote Buffett to emphasize the importance of hiring candidates with a moral compass.
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.
The exercise of reason is not available only to specialists; it is accessible to everyone.
The proverb says that 'The answer to a fool is silence'. Observation, however, indicates that almost any other answer will have the same effect in the long run.
Firmness in enduring and exertion is a character I always wish to possess. I have always despised the whining yelp of complaint and cowardly resolve.
Keep a diary, and someday it'll keep you.
What really counts are good endings, not flawed beginnings.
Don't even trust that you are able to unify what everyone is thinking; it is impossible
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