Day 197 · Mon, May 3, 2027 · Five editions

Mon, May 3, 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, 能言第四十, Entry 1

桓寬《鹽鐵論》· 卷7·能言第四十 · Investing · Character · Leadership · Action

大夫曰:「盲者口能言白黑,而無目以別之。儒者口能言治亂,而無能以行之。夫坐言不行,則牧童兼烏獲之力,蓬頭苞堯、舜之德。故使言而近,則儒者何患於治亂,而盲人何患於白黑哉?言之不出,恥躬之不逮。故卑而言高,能言而不能行者,君子恥之矣。」

Source: https://zh.wikisource.org/wiki/%E9%B9%BD%E9%90%B5%E8%AB%96/%E5%8D%B707
卷7·能言第四十·第1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

司馬光:Zizhi Tongjian, Volume 195, Entry 17

司馬光《資治通鑑》· 卷195·太宗文武大聖大廣孝皇帝中之上貞觀十四年(庚子,公元六四零年) · Health · Cognition · Growth · Action

初,陳倉折衝都尉魯寧坐事繫獄,自恃高班,慢罵陳倉尉尉氏劉仁軌,仁軌杖殺之。州司以聞。上怒,命斬之,怒猶不解,曰:「何物縣尉,敢殺吾折衝!」命追至長安面詰之。仁軌曰:「魯寧對臣百姓辱臣如此,臣實忿而殺之。」辭色自若。魏徵侍側,曰:「陛下知隋之所以亡乎?」上曰:「何也?」征曰:「隋末,百姓強而陵官吏,如魯寧之比是也。」上悅,擢仁軌為櫟陽丞。

Source: https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7195
卷195·太宗文武大聖大廣孝皇帝中之上貞觀十四年(庚子,公元六四零年)·第17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 · Western classics

Adam Smith:The Wealth of Nations, Book II, Chapter II, Paragraph 725

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

When, by any particular sum of money, we mean not only to express the amount of the metal pieces of which it is composed, but to include in its signification some obscure reference to the goods which can be had in exchange for them, the wealth or revenue which it in this case denotes, is equal only to one of the two values which are thus intimated somewhat ambiguously by the same word, and to the latter more properly than to the former, to the money’s worth more properly than to the money.

Source: https://www.gutenberg.org/ebooks/3300
Book II, Chapter II, paragraph 725

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 193, Entry 3

司馬光《資治通鑑》· 卷193·太宗文武大聖大廣孝皇帝上之中貞觀三年(己丑、公元六二九年) · Action · Leadership · Learning

二月,戊寅,以房玄齡為左僕射,杜如晦為右僕射,以尚書右丞魏徵守秘書監,參預朝政。

Source: https://zh.wikisource.org/wiki/%E8%B3%87%E6%B2%BB%E9%80%9A%E9%91%91/%E5%8D%B7193
卷193·太宗文武大聖大廣孝皇帝上之中貞觀三年(己丑、公元六二九年)·第3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 2023 Letter, Excerpt 4

Warren Buffett《Berkshire Hathaway 2023 Letter to Shareholders》· 2023 Chairman's Letter · Investing

We, however, are left uncomfortable. At Berkshire, our view is that “earnings” should be a sensible concept that Bertie will find somewhat useful – but only as a starting point – in evaluating a business. Accordingly, Berkshire also reports to Bertie and you what we call “operating earnings.” Here is the story they tell: $27.6 billion for 2021; $30.9 billion for 2022 and $37.4 billion for 2023.

Source: https://www.berkshirehathaway.com/letters/2023ltr.pdf
2023 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?