It's good to learn from your mistakes. It's better to learn from other people's mistakes.
Interpretation
Learning from others can prevent personal errors and enhance growth.
Warren Buffett emphasizes the importance of learning not just from our own failures but also from the experiences of others. This wisdom encourages us to observe and reflect on the mistakes of those around us, allowing us to avoid pitfalls and make more informed decisions in our own lives.
In practice
In a leadership workshop, to inspire attendees to embrace feedback.
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 persecution of genius fosters its influence.
Acquaint yourself with your own ignorance.
Judging others makes us blind, whereas love is illuminating. By judging others we blind ourselves to our own evil and to the grace which others are just as entitled to as we are.
Be like the rocky headland on which the waves constantly break. It stands firm, and round it the seething waters are laid to rest.
Greater in battle_x000D_ than the man who would conquer_x000D_ a thousand-thousand men,_x000D_ is he who would conquer_x000D_ just one β_x000D_ himself._x000D_ Better to conquer yourself_x000D_ than others._x000D_ When you've trained yourself,_x000D_ living in constant self-control,_x000D_ neither a deva nor gandhabba,_x000D_ nor a Mara banded with Brahmas,_x000D_ could turn that triumph_x000D_ back into defeat.
A man who graduated high in his class at Yale Law School and made partnership in a top law firm would be celebrated. A man who invested wisely would be admired, but a woman who accomplishes this is treated with suspicion.
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