- Nothing is as good or as bad as it seems. For every Bill Gates there is a Kent Evans who was just as skilled and driven but ended up on the wrong side of life’s roulette
- Luck & Risk are siblings. They are both the reality that every outcome in life is guided by forces other than individual effort
- Reputation, Freedom, Independence, Family & Friends, Happiness and being loved by those who you want love you – These are INVALUABLE
- If something compounds – if a little growth serves as the fuel for future growth – a small starting base can lead to results so extraordinary that they defy logic
- Getting money requires taking risks, being optimistic, and putting yourself out there. But keeping money requires the opposite of taking risk. It requires humility, and fear that what you’ve made can be taken away from you just as fast
- We can’t afford to rest on our laurels. We can’t be complacent
- Sensible optimism is a belief that the odds are in your favor, and over time things will balance out to a good outcome even of what happens in between is filled with misery
- The highest form of wealth is the ability to wake up every morning and say, “ I can do whatever I want today”
- Humility, kindness, and empathy will bring you more respect than anything ever wili
- In a world where intelligence is hyper-competitive and many previous technical skills have become automated, competitive advantages tilt toward nuanced and soft skills – like communication, empathy, and perhaps most of all, flexibility
- The End of History Illusion – people are keenly aware of how much they’ve changed in the past, but underestimate how much their personalities, desires and goals are likely to change in the future
- We should also come to accept the reality of changing our minds. The trick is to accept the reality of change and move on as soon as possible
- Nothing is free in life. Everything has a price, and the key to a lot of things with money is just figuring out what price is and being willing to pay it
- Understanding your own time horizon and not being persuaded by the actions and behaviours of people around you is perhaps the most important thing one can learn. Everyone is running his or her own race.
Years ago, when Robert Shiller (who won the Nobel Prize in Economics) was asked – what do you want to know about investing that we can’t know?
“The exact role of luck in successful outcomes,” he answered.
(I personally believe that the above holds true to almost every aspect of our lives)
A wise old owl lived in an oak,
The more he saw the less he spoke,
The less he spoke, the more he heard
Why aren’t we all like that wise old bird?
- Quoted by John D Rockefeller
But to each their own way, no one is crazy !!!
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