The big question about how people behave is whether they've got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.
Interpretation
The quote emphasizes the importance of self-assessment over external validation in evaluating one's behavior and success.
Warren Buffett's quote addresses the concept of measuring personal behavior and achievements through an 'Inner Scorecard,' which reflects one's own values and criteria, rather than an 'Outer Scorecard,' which relies on societal expectations and external opinions. By focusing on internal satisfaction and standards, individuals can lead more fulfilling lives that align with their true selves, rather than being swayed by the perceptions of others.
In practice
During a motivational speech about achieving personal goals.
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.
His ignorance seemed to widen with everything he read.
For some are in the habit of carrying about the name in wicked guile, while they still practice things unworthy of God. You must flee these as you would wild beasts. For they are ravening dogs, who bite secretly, against whom you must be on your guard, since they are men who can scarcely be cured.
Look at anyone's bookcase at home, no matter how modest, and you're going to find a book that contains wisdom or ideas or a language that's at least a thousand years old. And the idea that humans have created a mechanism to time travel, to hurl ideas into the future, it sort of bookends. Books are a time machine.
What I wanted to do was slap him down a bit with wit and words. Grammar and vocabulary as a weapon. But what kind of world would it be if we all took every opportunity presented to us to assault the weak?
The intelligence of the creature known as a crowd, is the square root of the number of people in it.
Do not base your life on the likings and dislikings or whims of others. What you are in life - whether you enjoy or suffer - it is your own responsibility. Be regular in your meditation and do not postpone for a later date your striving for God consciousness.
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