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Some Investor Lessons

here:

  • Learn compounding and patience. Nothing else matters if you want wealth.
  • Paying fee is fine, but you need to decide what works for you.
  • Trading is good for your broker and banker — they both make money on volatility. You make money on patience.
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Some Good Quotes

from Paul Graham’s collection:

“Anybody who cares less about wanting to be cool, I think, is more interesting.”
– Aimee Mann

“If your standards are low, you’re going to stop pretty early on in the process.”
– Aimee Mann

“Focusing is about saying no.”
– Steve Jobs

“As it turned out, the obvious clearly stated, and combined with new observations, was sometimes close to revolutionary.”
– Wallace Stegner on John Wesley Powell

“People don’t change their minds. They die, and are replaced by people with different opinions.”
– Arturo Albergati

“However little television you watch, watch less.”
– David McCullough

“A danger sign that fellow-obsessionals will at once recognize is the tendency to regard the happiest moments of your life as those that occur when someone who has an appointment to see you is prevented from coming.”
– Peter Medawar, Memoirs of a Thinking Radish

“The key to performance is elegance, not battalions of special cases.”
– Jon Bentley and Doug McIlroy

“We’re even wrong about which mistakes we’re making.”
– Carl Winfeld

“We act as though comfort and luxury were the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about.”
– Einstein

The best lack all conviction, while the worst are full of passionate intensity.
– Yeats, The Second Coming

“Americans spend an average of four hours a day watching TV, an hour of that enduring ads. That adds up to an astounding 10% of total leisure time; at current rates, a typical viewer fritters away three years of his life getting bombarded with commercials.”
– Scott Woolley, Forbes

“Dealing with failure is easy: Work hard to improve. Success is also easy to handle: You’ve solved the wrong problem. Work hard to improve.”
– Alan Perlis

“Change breaks the brittle.”
– Jan Houtema

“The condition of man is already close to satiety and arrogance, and there is danger of destruction of everything in existence.”
– a Brahmin to Onesicritus, 327 BC, reported in Strabo’s Geography

“The less confident you are, the more serious you have to act.”
– Tara Ploughman

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QOTD

Success is a few simple disciplines, practiced every day; while failure is simply a few errors in judgment, repeated every day.
—Jim Rohn

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My QOTD

Inaction definitely breeds fear. And fear breeds more inaction. It’s a negatively spiraling circle. Push yourself into action. Tolerate and face the discomfort as a result. Break the habit!

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QOTD

It’s the oldest story in the world. One day, you’re 17 and you’re planning for someday. And then quietly, without you ever really noticing, someday is today. And then someday is yesterday. And this is your life.

-Anon