Never lie under any circumstances.
Interpretation
Honesty is vital and should be maintained at all times, regardless of the situation.
Warren Buffett's quote emphasizes the importance of honesty and integrity. It suggests that lying can compromise one's character and reputation, and that being truthful should be a non-negotiable principle in both personal and professional life. Upholding honesty fosters trust and respect, which are essential for meaningful relationships and success.
In practice
In a business meeting when discussing the importance of transparency among colleagues.
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.
I’ve been through all this before,’ he says to his heart. “ ‘Yes, you have been through all this before,’ replies his heart. ‘But you have never been beyond it.
The readiest and surest way to get rid of censure, is to correct ourselves.
So, the tendency of our childish nature is to take small things too seriously and get easily offended, whereas when we are confronted with situations which have long-term consequences, we tend to take things less seriously
To thine own self be true, and it must follow, as the night the day, thou canst not then be false to any man.
It is a virtue to admit ignorance when you don't know, but not to wallow in ignorance as an end in itself._x000D_ _x000D_ People say if we don't believe god is watching over us, we abandon morality. Are they right?
The attitude of unconditional self-acceptance is probably the most important variable in their long-term recovery.
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