Wealth Earns While You Sleep
Wealth is assets that earn while you sleep.
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Wealth is assets that earn while you sleep; money and status are different games.
Today's question
Are you accumulating assets, or only salary and rank?
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From Chinese classics and Western philosophy to Buffett, Bezos, and Howard Marks. Every passage comes with its source, context, and one question for today.
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View allThe Investor's Goal
Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are…
Buy a piece of an understandable business at a rational price, when its earnings are almost certain to be materially…
Investing · Wealth · Decision · Modern investor letters
The Institutional Imperative
Institutional dynamics, not venality or stupidity, set businesses on these courses, which are too often misguided.
Businesses go astray less from greed or stupidity than from the inertia of institutional dynamics.
Decision · Cognition · Leadership · Human nature · Learning · Modern investor letters
The Obstacle Becomes the Way
For by these the mind doth turn and convert any impediment whatsoever, to be her aim and purpose. So that what before was the impediment, is now…
The mind can convert any impediment into its own aim; what was in the way becomes the readiest way.
Cognition · Action · Character · Philosophy · Western classics
Things and Views
Men are disturbed not by things, but by the views which they take of things.
People are disturbed not by things, but by the views they take of them.
Cognition · Character · Decision · Philosophy · Western classics
Life from Adversity, Death from Comfort
然後知生於憂患，而死於安樂也。
Adversity keeps a person alive; comfort lets them decay.
Character · Growth · History · Philosophy · Chinese classics
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