Writing a check separates a commitment from a conversation.
Interpretation
Writing a check signifies a formal commitment rather than just a verbal agreement.
Warren Buffett's quote suggests that putting one's money where one's mouth is represents a deeper level of commitment compared to merely discussing intentions. Financial decisions often serve as a concrete manifestation of one's priorities and beliefs, signifying a point of accountability that transcends dialogue.
In practice
In a business meeting discussing future projects, this quote could remind partners of the importance of making financial commitments.
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.
What is failure? We can’t possibly know what failure is. Most people think they do, but that’s because they’re judging how their lives should be and what they need it to be: a success. Who is to say what’s a success and what’s a failure? Do your best. Trust. Relax. Do your best. Enjoy yourself.
The secret of success is to make your mind work for you - not against you. This means constantly being positive, constantly setting up challenges you can meet - either today, next week, or next month etc.
Everybody in the minor leagues - if you're a player, an announcer, whatever - wants to be in the big leagues.
If everyone is moving forward together, then success takes care of itself.
Take a moment to think about your answer to this question: Am I prepared to have great success and not get any credit for it?
I have no more campaigns to run... I know because I won both of them.
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