Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.
Interpretation
True wealth lies not in possessions, but in the value of friendships.
Warren Buffett emphasizes that material possessions can become burdensome and can control a person instead of providing true happiness or fulfillment. He advocates for valuing friendships, which he considers to be far more important than any physical assets, asserting that health and meaningful relationships are what truly contribute to a rich and rewarding life.
In practice
During a speech about success, you might use this quote to highlight the importance of relationships over material wealth.
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.
Just remember, some come, some go. The ones that stay with you through everything - they're your true best friends. Don't let go of them.
I assure you that it is our desire and intention to keep the doors of consultation always and fully open. There must never be a final word between friends.
Today I know this: when it comes time to take stock, the most painful wound is that of broken friendships; and there is nothing more foolish than to sacrifice a friendship to politics.
Aziraphale. The Enemy, of course. But an enemy for six thousand years now, which made him a sort of friend.
A kind and gentle heart he had, To comfort friends and foes; The naked every day he clad When he put on his clothes.
Champagne for my real friends and real pain for my sham friends.
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