If you know why you're doing what you're doing, that's good enough.
There are two rules of investing according to Warren: Rule number one,never lose money. Rule number two,never forget rule number one.
The chains of habit are too light to be felt until you're too heavy to be broken.
The trick in investing is just to sit there and watch pitch after pitch to go by, and wait for the one right in your sweet spot. And the people that are yelling, "Swing, you bum?"Ignore them.
Defining what your game is, where you're going to have an edge is enormously important.
One of the reasons Warren is successful is he's brutal in appraising his own past.He wants to identify misthinking and avoid them in the future.
The world is a great movie to watch, but you don't want to sleepwalk through life. The important thing to do is to look for the job you would take if you didn't need a job and life is wonderful then. I mean,you'll jump out of bed in the morning because you're really looking forward to the day.
