I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20.
Interpretation
Personal goals should evolve as we age and gain experience.
Warren Buffett's quote emphasizes the importance of adapting our personal ambitions as we progress through different stages of life. At 20, we may prioritize different achievements and aspirations compared to when we reach 60, reflecting our growth, changing values, and accumulated wisdom over the years.
In practice
During a motivational speech about setting life goals at different ages.
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.
If you are careful,' Garp wrote, 'if you use good ingredients, and you don't take any shortcuts, then you can usually cook something very good. Sometimes it is the only worthwhile product you can salvage from a day; what you make to eat. With writing, I find, you can have all the right ingredients, give plenty of time and care, and still get nothing. Also true of love. Cooking, therefore, can keep a person who tries hard sane.
Telling the truth ... is not solely a matter of moral character; it is also a matter of correct appreciation of real situations and of serious reflection upon them.
There will always be people in your life who treat you wrong. Be sure to thank them for making you strong.
Give so much to the improvement of yourself, that you don’t have time to criticize others.
Some people have great ideas maybe once or twice in their life, and then they discover electricity or fire or outer space or something. I mean, the kind of brilliant ideas that change the whole world. Some people never have them at all... I get them two or three times a week.
If you desire to be pure, have firm faith, and slowly go on with your devotional practices without wasting your energy in useless scriptural discussions and arguments. Your little brain will otherwise be muddled.
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