Other guys read Playboy. I read annual reports.
Interpretation
This quote emphasizes the value of diligent research and informed decision-making over superficial indulgence.
Warren Buffett, a renowned investor, contrasts his approach to financial understanding with that of many others who might engage in more frivolous pursuits. By choosing to read annual reports, he highlights the importance of thoroughly analyzing a company’s performance and fundamentals to make informed investment decisions. This reflects his belief that success in investing requires a commitment to in-depth knowledge rather than mere entertainment.
In practice
In a financial seminar, you might quote Buffett to emphasize the importance of thorough research in investing.
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.
Meditation is object-less. If you use any object, then it is not meditation; it becomes thinking. It becomes contemplation; it becomes reflection, but not meditation. This is the most essential point to be understood. This is the essence of a meditative state: that it is object-less. Only consciousness is there, but not conscious ABOUT anything. Consciousness without being conscious of anything - this is the nature of meditation.
Instead of jumping at the chance to be offended, choose to be amused. Rather than filling your thoughts with resentment, fill your heart with forgiveness.
Today I'm out wandering, turning my skull into a cup for others to drink wine from. In this town somewhere there sits a calm, intelligent man, who doesn't know what he's about to do!
He that is good for making excuses is seldom good for anything else.
I find that many Christians are in trouble about the future; they think they will not have grace enough to die by. It is much more important that we should have grace enough to live by. It seems to me that death is of very little importance in the meantime. When the dying hour comes, there will be dying grace; but you do not require dying grace to live by.
As you get older, you want less from the world; you just want to experience it. Any barriers to feeling emotions get dismantled. And ordinary things become beautifully poetic.
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