The important thing is to keep playing, to play against weak opponents and to play for big stakes.
Interpretation
Success involves continuous engagement and taking calculated risks.
Warren Buffett emphasizes the importance of persistence and strategic competition in achieving success. He suggests that maintaining an active approach, whether by playing against less challenging competitors or engaging in high-stakes situations, is essential for growth and accomplishment.
In practice
During a business seminar, you might use this quote to highlight the importance of taking initiatives.
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 measure of success is not whether you have a tough problem to deal with, but whether it is the same problem you had last year.
First of all, what happens is, when you're good at something, you spend a lot of time with it. People identify you with that sport, so it becomes part of your identity.
The future of America is not an entitlement. We have been given a treasure chest of gifts and opportunities, but some people are being left behind, and success is not sustainable unless it is shared.
To me, success is choice and opportunity.
Would you like me to give you a formula for success? It's quite simple, really. Double your rate of failure.
I walk by studio heads and they actually look and put their hand out now, like maybe I should be on their radar.
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