I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do… - Warren Buffett

I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.

If you are investing in your education and you are learning, you should do that as early as you possibly can, because then it will have time to compound over the longest period.

And that the things you do learn and invest in should be knowledge that is cumulative, so that the knowledge builds on itself.

So instead of learning something that might become obsolete tomorrow, like some particular type of software [that no one even uses two years later], choose things that will make you smarter in 10 or 20 years.

Our performance, relatively, is likely to be better in a bear market than in a bull market ... in a year when the general market had a substantial advance, I would be well satisfied to match the advance of the averages.

So smile when you read a headline that says “Investors lose as market falls.” Edit it in your mind to “Disinvestors lose as market falls — but investors gain.” Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: “Every putt makes someone happy.”)