Archives of “Life” category

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New Trading Rules

  
Analysis, Education, Humour, Life
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Never marry a woman you wouldn’t wish to divorce, i.e. never get into a position you couldn’t get out of with ease, and think of this before you make the commitment. I would add that the selfish wife or selfish price or selfish dog should never marry a man that will leave her in oblivion if things don’t work out. Imagine the great harm that the selfish dog did itself by killing a human. Now they’re all likely to be rounded up.

Never admit to having made a profit, but always emphasize your losses.

Surround yourself with big and powerful players so that your positions will be with the forces when you disseminate or implement them.

Thought For A Day

  
Education, Life
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The only thing that can change it is you. You have to make change happen yourself.

You are the Director of your life. You are the Producer. You are the Lead Actor. You are the Choreographer and Makeup Artist. You write the soundtrack. Your name is next to every title on the credits at the end of your life story.

You.

This post will not change your life. It is just words floating around in cyberspace, written by me, some guy who lives in Poona. I can’t change your life, I’ve never even met you.

You are responsible for the decisions you make. They happen between your ears and they are entirely within your control.

This post will not change your life. Only you can do that.

Updated at 12:16/19th May/Baroda

Warren Buffett on the Lottery of Birth

  
Analysis, Education, Life
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One of the reasons J.D. asked me to join his merry band of GRS writers was so that I could add the occasional investing lesson to the line-up. Today, I’m going to hand that duty off very quickly to someone else, and then get to a life lesson from a great investor.

 

Today’s lesson comes from fund manager and former Motley Fool writer Whitney Tilson, whose Tilson Focus Fund (TILFX) has the best one-year return in Lipper’s multicap core category, according to Barron’s. In a recent interview on GuruFocus, Tilson said he began his investing career by reading all of Warren Buffett’s letters. If that sounds like good advice to you, every Berkshire Hathaway annual report since 1977 — which include Buffett’s letters — can be found at the Berkshire website. (If you have a yen to hear Buffett sing as well as read his words, check out his cameo in this GEICO video.)

 

The luck of the draw
But if you’d like some other kind of wisdom from Buffett, here’s a scenario that he often describes in speeches and interviews. (We’ve now moved into the “life lesson” part of this show.)

 It’s 24 hours before your birth, and a genie appears to you. He tells you that you can set the rules for the world you’re about to enter — economic, social, political — the whole enchilada. Sounds great, right? What’s the catch?

 

Before you enter the world, you will pick one ball from a barrel of 6.8 billion (the number of people on the planet). That ball will determine your gender, race, nationality, natural abilities, and health — whether you are born rich or poor, sick or able-bodied, brilliant or below average, American or Zimbabwean. (more…)

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