Day 183 · Mon, Apr 19, 2027 · Five editions

Mon, Apr 19, 2027

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

00:00 Night · Investing · Chinese classics

桓寬:Discourses on Salt and Iron, Volume 7, 擊之第四十二, Entry 5

桓寬《鹽鐵論》· 卷7·擊之第四十二 · Investing · Cognition · Decision · Growth

文學曰:「地廣而不德者國危,兵強而淩敵者身亡。虎兕相據,而螻蟻得志。兩敵相抗,而匹夫乘閑。是以聖王見利慮害,見遠存近。方今為縣官計者,莫若偃兵休士,厚幣結和親,修文德而已。若不恤人之急,不計其難,弊所恃以窮無用之地,亡十獲一,非文學之所知也。」

Source: https://zh.wikisource.org/wiki/%E9%B9%BD%E9%90%B5%E8%AB%96/%E5%8D%B707
卷7·擊之第四十二·第5则

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?

07:00 Morning · Health · Chinese classics

洪应明:Caigentan, Entry 40

洪应明《菜根譚》· 第40则 · Action · Philosophy · Health · Decision

慾路上事,毋樂其便而姑為染指,一染指便深入萬仞; 理路上事,無憚其難而稍為退步,一退步便遠隔千山。

Source: https://zh.wikisource.org/wiki/%E8%8F%9C%E6%A0%B9%E8%AD%9A
第40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?

12:00 Noon · Investing · Chinese classics

桓寬:Discourses on Salt and Iron, Volume 6, 散不足第二十九, Entry 37

桓寬《鹽鐵論》· 卷6·散不足第二十九 · Investing · Health · Character · Philosophy

「古聖人勞躬養神,節欲適情,尊天敬地,履德行仁。是以上天歆焉,永其世而豐其年。故堯秀眉高彩,享國百載。及秦始皇覽怪迂,信禨祥,使盧生求羨門高,徐市等入海求不死之藥。當此之時,燕、齊之士,釋鋤耒,爭言神仙。方士於是趣咸陽者以千數,言仙人食金飲珠,然後壽與天地相保。於是數巡狩五嶽、濱海之館,以求神仙蓬萊之屬。數幸之郡縣,富人以貲佐,貧者築道旁。其後,小者亡逃,大者藏匿;吏捕索掣頓,不以道理。名宮之旁,廬舍丘落,無生苗立樹;百姓離心,怨思者十有半。書曰:『享多儀,儀不及物曰不享。』故聖人非仁義不載於己,非正道不禦於前。是以先帝誅文成、五利等,宣帝建學官,親近忠良,欲以絕怪惡之端,而昭至德之塗也。

Source: https://zh.wikisource.org/wiki/%E9%B9%BD%E9%90%B5%E8%AB%96/%E5%8D%B706
卷6·散不足第二十九·第37则

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

管仲(舊題):Guanzi, 第16篇法法, Entry 2

管仲(舊題)《管子》· 第16篇法法 · Action · Philosophy · Leadership · Cognition

民毋重罪,過不大也。民毋大過,上毋赦也。上赦小過則民多重罪,積之所生也。故曰:赦出則民不敬,惠行則過日益。惠赦加於民,而囹圄雖實,殺戮雖繁,姦不勝矣。故曰:邪莫如蚤禁之。赦過遺善,則民不勵。有過不赦,有善不遺,勵民之道,於此乎用之矣。故曰:明君者,事斷者也。

Source: https://zh.wikisource.org/wiki/%E7%AE%A1%E5%AD%90/%E7%AC%AC16%E7%AF%87%E6%B3%95%E6%B3%95
第16篇法法·第2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

Warren Buffett:Berkshire 1997 Letter, Excerpt 4

Warren Buffett《Berkshire Hathaway 1997 Letter to Shareholders》· 1997 Chairman's Letter · Investing

In our last two annual reports, we furnished you a table that Charlie and I believe is central to estimating Berkshire's intrinsic value. In the updated version of that table, which follows, we trace our two key components of value. The first column lists our per-share ownership of investments (including cash and equivalents) and the second column shows our per-share earnings from Berkshire's operating businesses before taxes and purchase-accounting adjustments (discussed on pages 69 and 70), but after all interest and corporate expenses. The second column excludes all dividends, interest and capital gains that we realized from the investments presented in the first column. In effect, the columns show what Berkshire would look like were it split into two parts, with one entity holding our investments and the other operating all of our businesses and bearing all corporate costs.

Source: https://www.berkshirehathaway.com/letters/1997.html
1997 Chairman's Letter, excerpt 4

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?