If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.
Interpretation
Be cautious about the things you own, ensuring they bring long-term value rather than short-term satisfaction.
This quote by Warren Buffett emphasizes the importance of being thoughtful in our purchases and commitments. It suggests that if you are not willing to invest in an item for a significant amount of time, it may not be worth acquiring at all, urging us to consider the long-term implications of our choices over fleeting desires.
In practice
This quote can be used during a financial seminar to discuss smart spending habits.
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.
The history of humanity is not a hotel where someone can rent a room whenever it suits him; nor is it a vehicle which we board or get out of at random. Our past will be for us a burden beneath which we can only collapse for as long as we refuse to understand the present and fight for a better future. Only then β but from that moment on β will the burden become a blessing, that is, a weapon in the battle for freedom.
If a window is broken and left unrepaired, people walking by will conclude that no one cares and no one is in charge. Soon, more windows will be broken, and the sense of anarchy will spread from the building to the street on which it faces, sending a signal that anything goes.
Commit a crime, and the earth is made of glass.
The greatest myth about mass incarceration is that it has been driven by crime and crime rates. It's just not true.
There are only individual people, different individual people, with their own individual lives. Using one of these people for the benefit of others uses him and benefits the others. Nothing more. What happens is that something is done to him for the sake of others. Talk of an overall social good covers this up.
While violence is part of what it means to be part of the black diaspora in the United States, that is not all it means to be black.
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