The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.
Interpretation
Investing in education is the most valuable decision a young person can make because knowledge endures.
Warren Buffett emphasizes that the most significant investment for a young person is not monetary assets but rather the knowledge they acquire through education. He believes that while financial resources and relationships may be fleeting, the wisdom and understanding gained through learning are permanent, providing a foundation for lifelong growth and success.
In practice
In a graduation speech to inspire young graduates.
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.
School days, I believe, are the unhappiest in the whole span of human existence.
Every time a book changes hands, every time someone runs his eyes down its pages, its spirit grows and strengthens.
I do not write for this generation. I am writing for other ages. If this could read me, they would burn my books, the work of my whole life. On the other hand, the generation which interprets these writings will be an educated generation; they will understand me and say: 'Not all were asleep in the nighttime of our grandparents.'
The great object of Education should be commensurate with the object of life. It should be a moral one; to teach self-trust: to inspire the youthful man with an interest in himself; with a curiosity touching his own nature; to acquaint him with the resources of his mind, and to teach him that there is all his strength.
Most of these students are so conditioned to success that they become afraid to take risks. They have been taught from a young age by zealous parents, schools, and institutional authorities what constitutes failure and success. They are socialized to obey. They obsess over grades and seek to please professors, even if what professors teach is fatuous. The point is to get ahead, and getting ahead means deference to authority. Challenging authority is never a career advancer.
Education is our only political safety. Outside of this ark all is deluge.
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