Do not put all your eggs in one basket.
Interpretation
Diversification is crucial to minimize risk.
This quote suggests that one should not concentrate all their resources or efforts in one area, as this increases the risk of total loss. By spreading investments or efforts across different areas, one can protect themselves from significant failures and enhance their chances of success.
In practice
In a financial seminar, to emphasize the importance of diversifying 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.
Wisdom is nothing but a preparation of the soul, a capacity, a secret art of thinking, feeling and breathing thoughts of unity at every moment of life.
Child, you have to learn to see things in the right proportions. Learn to see great things great and small things small.
Also, it's good to have more than one profession, in case your own profession goes out of style. A Wall Street trader who's also a belly dancer will do a lot better than a trader who winds up driving a taxi.
Similarly, the impulse to keep to yourself what you have learned is not only shameful, it is destructive. Anything you do not give freely and abundantly becomes lost to you. You open your safe and find ashes.
By all means sometimes be alone; salute thyself; see what thy soul doth wear; dare to look in thy chest; and tumble up and down what thou findest there.
Stupidity is something unshakable; nothing attacks it without breaking itself against it; it is of the nature of granite, hard and resistant.
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