Monday, July 19, 2010

Buffett: Outer Scorecard vs Inner Scorecard

"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?"

Those who answer the latter have an inner scorecard. They'll have the ability to be a true contrarian, ignoring the world's judgment and focusing on long-term results.

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