The one piece of advice I can give you is, do what turns you on. Do something that if you had all the money in the world, you’d still be doing it. You’ve got to have a reason to jump out of bed in the morning.
Interpretation
Follow your passions and do what excites you, regardless of financial rewards.
Warren Buffett emphasizes the importance of pursuing activities that ignite your passion and enthusiasm. He suggests that true fulfillment comes not from financial gain, but from engaging in work that you would continue to do even if you were wealthy. This perspective encourages individuals to find purpose and joy in their daily lives, leading to greater overall satisfaction.
In practice
In a motivational speech to young entrepreneurs.
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.
There are no office hours for champions.
Every great and commanding movement in the annals of the world is due to the triumph of enthusiasm. Nothing great was ever achieved without it
I never thought very many people in the world were very much like John Laroche, but I realized more and more that he was only an extreme, not an aberration - that most people in some way or another do strive for something exceptional, something to pursue, even at their peril, rather than abide an ordinary life.
If you've got the platform and the ability to make a difference, then this goes beyond 'should' and reaches the level of 'must.' You must make a difference or you squander the opportunity. Wasting the opportunity both degrades your own ability to contribute and, more urgently, takes something away from the rest of us.
Men do less than they ought, unless they do all they can.
If you want to have a better performance than the crowd, you must do things differently from the crowd.
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