If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster.
Interpretation
True success is measured by how you are perceived by others rather than material wealth.
Warren Buffett's quote emphasizes that reaching an advanced age without having earned respect and positive regard from others signifies a failure in life, regardless of financial wealth. It suggests that personal relationships and reputation are far more valuable than monetary riches, highlighting the importance of character and the impact one has on the lives of others over time.
In practice
In a graduation speech to remind students that character is more important than wealth.
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.
When beginning your entrepreneurial journey, acknowledge that you become a product of the five people you spend the most time with. So choose your company wisely.
What are the five products you want to focus on? Get rid of the rest, because they’re dragging you down. They’re turning you into Microsoft. They’re causing you to turn out products that are adequate but not great.
New products, new markets, new investors, and new ways of doing things are the lifeblood of growth. And while each innovation carries potential risk, businesses that don't innovate will eventually diminish.
Victory was to be bought so dear as to be almost indistinguishable from defeat.
Success comes to those who dedicate everything to their passion in life. To be successful, it is also very important to be humble and never let fame or money travel to your head.
A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them. This sequence is something that all achievers have in common. They do not see a mistake is as their failure; rather it is simply a learning experience. Achievers view a mistake as an opportunity to do something over again and do it right the second time. A mistake is simply the price they pay to achieve success.
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