Deep thought
Archives of “January 9, 2019” day
rssAckman's email to Munger says Valeant is a cross between Berkshire and 3G and is perennially undervalued
"When beggars and shoeshine boys, barbers ,blue Channels Analysts and beauticians can tell you…..
My favorite things in life don't cost any money. The most precious resource we all have is time. — Steve Jobs
The 4 levels to Mastery
2012: facebook is worth $15 2016: $351b market cap, 6th most valuable company in the world
Simple, bedrock rules for managing your personal finances
Simple, bedrock rules for managing your personal finances: http://t.co/9wOp69ycyu pic.twitter.com/xQSSE5dq0Q
— Wall Street Journal (@WSJ) February 15, 2015
Control & Focus
Know what you can control and what you can’t. You can’t control the market, but you can control how you react to the market. Before you can become a consistent trader, you must first control how you respond to the market and your actions. We can always be in control of ourselves and how we act. Being able to regulate our actions has a lot to do with how we see ourselves as a trader, our vision for ourselves, and our confidence.Better to start and continue on your journey slowly, than to never start at all.
Risk is the Possibility of Loss
“Risk is the possibility of loss. That is, if we own some stock, and there is a possibility of a price decline, we are at risk. The stock is not the risk, nor is the loss the risk. The possibility of loss is the risk. As long as we own the stock, we are at risk. The only way to control the risk is to buy or sell stock. In the matter of owning stocks, and aiming for profit, risk is fundamentally unavoidable and the best we can do is to manage the risk. To manage is to direct and control. Risk management is to direct and control the possibility of loss. The activities of a risk manager are to measure risk and to increase and decrease risk by buying and selling stock.”
“Risk is the possibility of loss. That is, if we own some stock, and there is a possibility of a price decline, we are at risk. The stock is not the risk, nor is the loss the risk. The possibility of loss is the risk. As long as we own the stock, we are at risk. The only way to control the risk is to buy or sell stock. In the matter of owning stocks, and aiming for profit, risk is fundamentally unavoidable and the best we can do is to manage the risk. To manage is to direct and control. Risk management is to direct and control the possibility of loss. The activities of a risk manager are to measure risk and to increase and decrease risk by buying and selling stock.”Simple?