Opportunity cost is a huge filter in life. If you’ve got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that’s the way we filter out buying opportunities.
Berkshire was built on the eternal verities: basic mathematics, basic horse sense, basic fear, and basic diagnosis of human nature to make predictions regarding human behavior. We stuck to the basics with a certain amount of discipline and it has worked out quite well.
The difference between average and good. Good and Great! Great and Phenomenal! It’s their mindset!
To be able, at any moment, to sacrifice what you are, for what you will become.
I realized the secret to success is finishing! And not just finishing, but finishing strong!
Every single day must be excellent. You’ve got to give it all you’ve got!
Don’t quit. You’re already in pain. You’re already hurt. Get a reward from it!
Time is your friend; impulse is your enemy.
True entrepreneurshi p comes only from risk-taking.
Our dreams have to be bigger. Our ambitions higher. Our commitment deeper. And our efforts greater. This is my dream for Reliance and for India.
Don’t let your want for perfection become procrastination.
Find a need and fill it.
Every once in a while you must go to cash, take a break, take a vacation. Don’t try to play the market all the time. It can’t be done, too tough on the emotions.
I began to realize that the big money must necessarily be in the big swing.
Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.
A loss never bothers me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does damage to the pocketbook and to the soul.
It isn’t as important to buy as cheap as possible as it is to buy at the right time.
When I’m bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don’t buy long stocks on a scale down, I buy on a scale up.
At long as a stock is acting right, and the market is right, do not be in a hurry to take profits. One should never permit speculative ventures to run into investments.
There is time to go long, time to go short and time to go fishing.