mzeiya
Elder Lister
When it comes to sowing less and harvesting aplenty, no one beats Warren Buffet.. Not even hawa youngsters wa majuzi wa crypto.
Dude has amassed immense wealth over the decades and he still remains grounded. You can tell that's the case by the openness with which he shares his secrets and here are some of the principles that he's abided by...
1. The Orangutan Effect
"If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will exit thinking more clearly yourself."
Teaching others actually teaches yourself.
2. The Faulty Premise Framework
“A horse that can count to ten is a remarkable horse - not a remarkable mathematician.”
Beware your comparison set.
Are you judging crappy relative performance or absolute results?
3. Pick the Right Business Boat
The business boat you get into is more important than how effectively you row.
“When a brilliant management team tackles a business with a reputation for poor fundamental economics, the reputation of the business usually stays intact.”
4. A Rising Tide Doesn't Lift All Bonuses
"Good performance should be rewarded whether Berkshire stock rises or falls.
Average performance should earn no special rewards even if our stock soars."
Judge for individual performance or risk free riding on group success.
5. Preaching Never Outweighs Performance
Everyone tries to predict the future.
But it's a loser's game.
Instead of predicting rain, focus on building the Ark.
The Ark is a durable business that can weather the storm.
6. The Silent Secret to Investing (and life)
Can you be content doing nothing?
Well captured by the quote "It has struck me that all men’s misfortunes spring from the single cause that they are unable to stay quietly in one room.”
- Blaise Pascal
Dude has amassed immense wealth over the decades and he still remains grounded. You can tell that's the case by the openness with which he shares his secrets and here are some of the principles that he's abided by...
1. The Orangutan Effect
"If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will exit thinking more clearly yourself."
Teaching others actually teaches yourself.
2. The Faulty Premise Framework
“A horse that can count to ten is a remarkable horse - not a remarkable mathematician.”
Beware your comparison set.
Are you judging crappy relative performance or absolute results?
3. Pick the Right Business Boat
The business boat you get into is more important than how effectively you row.
“When a brilliant management team tackles a business with a reputation for poor fundamental economics, the reputation of the business usually stays intact.”
4. A Rising Tide Doesn't Lift All Bonuses
"Good performance should be rewarded whether Berkshire stock rises or falls.
Average performance should earn no special rewards even if our stock soars."
Judge for individual performance or risk free riding on group success.
5. Preaching Never Outweighs Performance
Everyone tries to predict the future.
But it's a loser's game.
Instead of predicting rain, focus on building the Ark.
The Ark is a durable business that can weather the storm.
6. The Silent Secret to Investing (and life)
Can you be content doing nothing?
Well captured by the quote "It has struck me that all men’s misfortunes spring from the single cause that they are unable to stay quietly in one room.”
- Blaise Pascal