Warren Buffett's Wisdom: 5 Inspirational Quotes From The Oracle Of Omaha

Warren Buffett's Wisdom: 5 Inspirational Quotes From The Oracle Of Omaha

No matter what the avenue is, even if it is about buying a business, the price may indicate the potential it holds.

G R MukeshUpdated: Monday, May 13, 2024, 02:13 PM IST
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The Oracle of Omaha has inspired many to be like him, but what made Warren Buffett, Warren Buffett, is not try and create a perfect image, but imagine perfection, and strive towards it. These are some of the wise words that one of the greatest of the Wall Street tales shared with the world.

"It's far better to buy a wonderful company at a fair price, than a fair company at a wonderful price"

Just like the saying goes, 'All that glitters is not gold', it is therefore, about separating the wheat from the chaff. If you venture into something, lured by what is on offer, in the immediate sense, then perhaps what lies ahead may not be known or visible. No matter what the avenue is, even if it is about buying a business, the price may indicate the potential it holds. If you have to shell an extra penny for something that works, chances are that it works. It is advisable to do that instead of investing in something, that, while being inexorbitant, is also hollow, and lacks potential, and perhaps comes with liabilities that would encumber your entire operation.

"If you aren't thinking about owning a stock for 10 years, don't even think about owning it for 10 minutes"

Buffett was and is someone who believes in holding faith and his stocks for a company for a long, long time. In fact, in many a case his decision to skip that routine and divest from an entity often is seen as an indicator to where the company might be headed. Faith, loyalty and integrity are some of the words that have often defined Buffett's thought process. When you combine these elements, you find the tangibility to invest and, most importantly, stay invested in an institution for the long run.

"Our favorite holding period is forever"

Another quote that underscores his focus on longevity. Although, there is no harm in sensing the heat and moving out before everything comes to a crashing. But it is also about trusting one's instincts. Commitment to success is also a commitment to patience, as without that, moving from one avenue to the other will not necessarily result in fruition. Buffett's own business longevity is emblematic and, therefore, is an epitome of the resounding success of this approach.

"Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future"

No one can predict the future. In fact, those who talk about being able to predict the future are unintelligently placing their ignorance and insecurities on the platter, which is out there for everyone to see and deride. The future can only be made, if one makes it happen through their actions in the present, rather than trying to establish a future that is yet to transpire. One cannot predict the future, but to see what has come to pass in the past, use the lessons from that in the present to make the future happen.

"Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble"

While waiting is essential, and being patient is crucial, one also needs to know, as to what to wait for and what not to. Because sometimes, opportunity presents itself, only for you to lose it. This, as you are perhaps waiting for something better and bigger. Although, there is always a possibility of something better happening later, for it to be better than better, one needs to do their best to take advantage of the opportunity at hand and not waste a moment to make the most of the moment, for this could be the route, that could take you to the best.

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