Banking is very good business if you don't do anything dumb.
Interpretation
Success in banking requires smart decisions and avoiding foolish actions.
Warren Buffett's quote emphasizes that banking, as a business, can be highly profitable if one exercises caution and avoids making unwise decisions. It highlights the importance of strategic thinking and prudence in financial matters to achieve success in the banking industry.
In practice
Using this quote during a financial seminar to stress the importance of smart investments.
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.
Those who enter to buy, support me. Those who come to flatter, please me. Those who complain, teach me how I may please others so that more will come. Those only hurt me who are displeased but do not complain. They refuse me permission to correct my errors and thus improve my service.
My own view is that every company requires a long-term view.
By simply capitalizing on core strengths and knowledge, companies and entrepreneurs can engage in an emerging business model that will enable them to create - and demonstrate - real, sustainable social impact in society.
A well-run restaurant is like a winning baseball team. It makes the most of every crew member's talent and takes advantage of every split-second opportunity to speed up service.
No idea for a new growth business ever comes fully shaped. When it emerges, it's half-baked, and it then goes through a process of becoming fully shaped.
When you're thinking about your next product or current product and wondering how to make it different so you don't have competition, understand the job the customer needs to get done.
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