I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
Interpretation
Taking time to think and reflect leads to better decision-making in business.
In this quote, Warren Buffett emphasizes the importance of dedicating time to thoughtful reflection and reading, which he believes are essential for sound decision-making in business. Contrary to the fast-paced nature of American business culture, he advocates for a more deliberate approach, suggesting that this practice not only improves judgment but also aligns with his personal values and lifestyle.
In practice
In a motivational speech about leadership, one might say, 'As Warren Buffett emphasizes, spending time to think can transform your decision-making process.'
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.
Teach us almighty father, to consider this solemn truth, as we should do, that we may feel the importance of every day, and every hour as it passes.
One of the advantages of travelling the world is that you get to know the world broadly. And one of the advantages of staying in one place is that you get to know the world deeply.
Just for today, I will let go of anger. Just for today, I will let go of worry. Today, I will count my many blessings. Today, I will do my work honestly. Today, I will be kind to every living creature.
Dig inside. Inside is the fountain of good, and it will forever flow, if you will forever dig.
There is only one you. God wanted you to be you. Don't you dare change just because you're outnumbered!
Anger and folly walk cheeck by jowl.
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