The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.
Interpretation
We should exercise more caution in our own actions when we observe a lack of caution in others.
Warren Buffett's quote emphasizes the importance of prudence and careful decision-making, especially in a world where others may act recklessly. It suggests that the behavior of those around us can serve as a reminder to be more deliberate and thoughtful in our own choices, ensuring that we navigate our own affairs with greater care.
In practice
This quote can be shared during a business meeting to emphasize the need for careful planning.
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.
If you are a strong man, very good! But do not curse others who are not strong enough for you. ...Everyone says, "Woe unto you people!!" Who says, "Woe unto me that I cannot help you?" The people are doing all right to the best of their ability and means and knowledge. Woe unto me that I cannot lift them to where I am!
We need to strengthen such inner values as contentment, patience and tolerance, as well as compassion for others. Keeping in mind that it is expressions of affection rather than money and power that attract real friends, compassion is the key to ensuring our own well-being.
Look Upon Every Experience You've Ever Had ... as Having Been Sent to You for Your Benefit
Blessed is the man, who having nothing to say, abstains from giving wordy evidence of the fact.
We think that the point is to pass the test or overcome the problem, but the truth is that things don't really get solved. They come together and they fall apart. Then they come together again and fall apart again. It's just like that. The healing comes from letting there be room for all of this to happen: room for grief, for relief, for misery, for joy. (10)
You can't argue with what is.... Well, you can, but if you do, you suffer.
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