Day 142 · Tue, Mar 9, 2027 · Five editions

Tue, Mar 9, 2027

Five emails a day: 00:00 Night / 07:00 Morning / 12:00 Noon / 17:00 Evening / 21:00 Figures

00:00 Night · Health · Chinese classics

管仲(舊題):Guanzi, 第64篇形勢解, Entry 67

管仲(舊題)《管子》· 第64篇形勢解 · Health · Character · Leadership

臣不親其主,百姓不信其吏,上下離而不和,故雖自安,必且危之。故曰:「上下不和,雖安必危。」

Source: https://zh.wikisource.org/wiki/%E7%AE%A1%E5%AD%90/%E7%AC%AC64%E7%AF%87%E5%BD%A2%E5%8B%A2%E8%A7%A3
第64篇形勢解·第67则

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

What does this passage say about your body or mood today?

07:00 Morning · Health · Chinese classics

王阳明:Chuanxilu, 卷中 165

王阳明《傳習錄》· 卷中·第165条 · Health · Cognition · Character · Philosophy

來書云:「聰明睿知果質乎?仁義禮智果性乎?喜怒哀樂果情乎?私欲客氣果一物乎?二物乎?古之其才,若子房、仲舒、叔度、孔明、文中、韓、范諸公,德業表著,皆良知中所發也,而不得謂之聞道者,果何在乎?苟曰此特生質之美耳,則生知、安行者,不愈於學知、困勉者乎?愚意竊云謂諸公見道偏則可,謂全無聞則恐後儒崇尚記誦訓詁之過也。然乎?否乎?」 性一而已。仁、義、禮、知,性之性也;聰、明、睿、知,性之質也;喜、怒、哀、樂,性之情也;私欲、客氣,性之蔽也。質有清濁,故情有過不及,而蔽有淺深也;私欲、客氣,一病兩痛,非二物也。張、黃、諸葛及韓、范諸公,皆天質之美,自多暗合道妙,雖未可盡謂之知學,盡謂之聞道,然亦自其有學,違道不遠者也;使其聞學知道,即伊、傅、周、召矣。若文中子則又不可謂之不知學者,其書雖多出於其徒,亦多有未是處,然其大略則亦居然可見,但今相去遼遠,無有的然憑證,不可懸斷其所至矣。夫良知即是道,良知之在人心,不但聖貿,雖常人亦無不如此。若無有物欲牽蔽,但循著真知發用流行將去,即無不是道。但在常人多為物欲牽蔽,不能循得良知。如數公者,天質既自清明,自少物欲為之牽蔽,則其良知之發用流行處,自然是多,自然違道不遠。學者學循此良知而已。謂之知學,只是知得專在學循良知。數公雖未知專在良知上用功,而或泛濫於多歧,疑迷於影響,是以或離或合而未純。若知得時,便是聖人矣。後儒嘗以數子者,尚皆是氣質用事,未免於行不著,習不察,此亦未為過論。但後儒之所謂著、察者,亦是狃於聞見之狹,蔽於沿習之非,而依擬仿象於影響形跡之間,尚非聖門之所謂著、察者也。則亦安得以己之昏昏,而求人之昭昭也乎?所謂生知、安行,「知、行」二字,亦是就用功上說;若是知、行本體,即是良知、良能,雖在困勉之人,亦皆可謂之生知、安行矣。知、行二字更宜精察。

Source: https://zh.wikisource.org/wiki/%E5%82%B3%E7%BF%92%E9%8C%84/%E5%8D%B7%E4%B8%AD
卷中·第165条

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

What does this passage say about your body or mood today?

12:00 Noon · Investing · Western classics

Adam Smith:The Wealth of Nations, Book I, Chapter VIII, Paragraph 233

Adam Smith《The Wealth of Nations》· Book I, Chapter VIII · Investing

In a year of sudden and extraordinary plenty, there are funds in the hands of many of the employers of industry, sufficient to maintain and employ a greater number of industrious people than had been employed the year before; and this extraordinary number cannot always be had. Those masters, therefore, who want more workmen, bid against one another, in order to get them, which sometimes raises both the real and the money price of their labour.

Source: https://www.gutenberg.org/ebooks/3300
Book I, Chapter VIII, paragraph 233

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

Does this passage change one judgment about money or risk today?

17:00 Evening · Career · Chinese classics

司馬光:Zizhi Tongjian, Volume 198, Entry 1

司馬光《資治通鑑》· 卷198·太宗文武大聖大廣孝皇帝下之上貞觀二十一年(丁未,公元六四七年) · Leadership · Health · Decision · Action

春,正月,開府儀同三司申文獻公高士廉疾篤;辛卯,上幸其第,流涕與訣;壬辰,薨。上將往哭之,房玄齡以上疾新愈,固諫,上曰:「高公非徒君臣,兼以故舊姻戚,豈得聞其喪不往哭乎?公勿復言!」帥左右自興安門出。長孫無忌在士廉喪所,聞上將至,輟哭,迎諫於馬首曰:「陛下餌金石,於方不得臨喪,奈何不為宗廟蒼生自重!且臣舅臨終遺言,深不欲以北首、夷衾,輒屈鑾駕。」上不聽。無忌中道伏臥,流涕固諫,上乃還入東苑,南望而哭,涕下如雨。及柩出橫橋,上登長安故城西北樓,望之慟哭。

Source: https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7198
卷198·太宗文武大聖大廣孝皇帝下之上貞觀二十一年(丁未,公元六四七年)·第1则

This is a direct reading: the original and source are kept; commentary will be added later.

Today's question

What does this passage say about how you work today?

21:00 Figures · Investing · Modern investor letters

Benjamin Graham:Voting Machine and Weighing Machine

Benjamin Graham《Security Analysis》· Chapter XXXIX, “Price-Earnings Ratios for Common Stocks. Adjustments for Changes in Capitalization” · Investing · Cognition · Human nature

The stock market is a voting machine rather than a weighing machine. It responds to factual data not directly but only as they affect the decisions of buyers and sellers.

Source: https://archive.org/details/dli.ernet.7983
Chapter XXXIX, “Price-Earnings Ratios for Common Stocks,” paragraph beginning “But the stock market itself has no time...”

Reading

Prices reflect human reactions, not precise mechanical valuations.

Context

Graham's actual wording in Security Analysis differs from the popular paraphrase “in the short run the market is a voting machine, but in the long run it is a weighing machine.” That compressed version is a later summary; Graham wrote that prices are the result of human reactions and that the market responds to facts only through buyers' and sellers' decisions. The distinction matters because it warns investors against treating market prices as precise measurements of value.

Today's question

When did you last change your judgment because of the market's vote—and what would you do if you looked only at the business's weight?