Lessons from a great value investor on investing, family, relationships, history and stoicisim
Rating: 4/5
Stoic philosophers practice negative visualization where you imagine you are going to lose someone or somebody to make the loss less painful and appreciate the person much more
Soul in the game: when your creation is indistinguishable from your identity
For an autism, the love of his craft is his primary motivation - financial considerations are always secondary
Maintaining the attitude of a perpetual learner, being open minded to new knowledge is paramount to preventing your ego and success from hindering your learning and self improvement
Single focus and constant improvement and student of life = incredibly powerful force
‘Children are the living messages we send to a time we will not see’ - JFK
Ego stifles growth - it stops learning
‘As our circle of knowledge expands, so does the circumference of darkness surrounding it’ - Einstein
Abundance often devalues thing we enjoy
We damage our brain while we’re awake and it gets healed and regained while we sleep. If you don’t get enough sleep, your health will pay a big price
Systems are what you do, outcomes are what you get and identity is what you believe in
We are a guest at the party of thoughts that is happening non stop in our brain
People who don’t meditate experience unnecessary suffering
‘Yesterday is history, tomorrow’s a mystery and today is a gift - that’s why they call it the present’ - Kung Fu Panda
When budgeting with your spouse, think of future expenses and add those as a line item so you can start saving today
‘Wealth consists not in having great possessions, but having few wants’ - Epictetus
Pain often unlocks creativity
‘Time discovers truth’ - Seneca
‘The more we value things outside our control, the less control we have’ - Epictetus
Understand that everyone (and everything) around you is transitory so you value people and things a lot more
Practice the last time negative visualization as everything we do will have a last time
Life will throw adversity at us. If we behave like victims, we will be destined to have a miserable life. If we decided to choose adversity and reframe it, the colour of life will change
The venom generated by anger, especially towards others, is always followed by regret
‘The best answer to anger is silence’ - Marcus Aurelius
Disarm anger with kindness
‘Count each separate day as a separate life’ - Seneca
When you are 70 and look back at your life, if a lot of people would hide you during the holocaust, you’ve lived a successful life - Buffet
The most alluring bad value - material success
‘It is not the man who has too little but the man who craves more, that is poor’ - Seneca
Pleasure comes from the journey (which is often a struggle) towards a goal, not from actually achieving the goal
No matter how intense the pain is now, it is temporary. It will pass
Don’t wait on inspiration. Create the time and space for inspiration to come
Allow others’ greatness to inspire us, not put us down
The greats in any field have big shadows. Don’t step in them, create your own
Separate the art of the final product from the craft of the process to create it
‘Learn all the rules like a pro so you can break them as an artist’ - Picasso
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