Topic
Wealth
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The 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
All for Profit
諺曰:「千金之子,不死於市。」此非空言也。故曰:「天下熙熙,皆為利來;天下壤壤,皆為利往。」
An old proverb on wealth and human nature: the crowd comes and goes for profit.
Wealth · History · Human nature · Chinese classics
Don't Mistake Your Vocation
The safest plan, and the one most sure of success for the young man starting in life, is to select the vocation which is most congenial to his tastes.
The safest path for a young person is to choose the vocation most congenial to their nature.
Wealth · Growth · Decision · Western classics
Thinking Stuff
There is a thinking stuff from which all things are made, and which, in its original state, permeates, penetrates, and fills the interspaces of the…
Wattles' metaphysical premise: a thinking substance permeates and fills the universe.
Wealth · Cognition · Growth · Western classics
Sloth and Industry
Sloth makes all things difficult, but industry all easy.
Sloth makes everything difficult; industry makes everything easy.
Wealth · Action · Growth · Western classics
A Wonderful Company at a Fair Price
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
A wonderful business at a fair price beats a fair business at a bargain price.
Investing · Wealth · Decision · Modern investor letters
Wealth Earns While You Sleep
Wealth is assets that earn while you sleep.
Wealth is assets that earn while you sleep; money and status are different games.
Wealth · Investing · Character · Cognition · Modern investor letters
A Stock Is a Piece of a Company
买股票就是买公司。
Buying a stock is buying a piece of a company, not a ticker.
Investing · Wealth · Decision · Cognition · Modern investor letters
Exponential Returns Come Later
指数增长的好投资,最大的回报往往是在后面几年。
In a good exponential investment, most of the return arrives in the later years.
Investing · Wealth · Growth · Character · Modern investor letters
Know When to Stop
名與身孰親?身與貨孰多?得與亡孰病?是故甚愛必大費,多藏必厚亡,知足不辱,知止不殆,可以長久。
Fame and wealth cost life; knowing contentment and when to stop is how you last.
Wealth · Character · Philosophy · Decision · Chinese classics
The Butcher, the Brewer, and the Baker
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
Exchange works through mutual self-interest, not benevolence.
Wealth · Human nature · Decision · Philosophy · Western classics
Caigentan, Entry 4
勢利紛華,不近者為潔,近之而不染者為尤潔; 智械機巧,不知者為高,知之而不用者為尤高。
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Caigentan, Entry 16
寵利毋居人前,德業毋落人後; 受享毋踰分外,修為毋減分中。
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Caigentan, Entry 17
處世讓一步為高,退步即進步的張本; 待人寬一分是福,利人實利己的根基。
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Caigentan, Entry 29
憂勤是美德,太苦則無以適性怡情; 澹泊是高風,太枯則無以濟人利物。
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Caigentan, Entry 31
富貴家宜寬厚,而反忌刻,是富貴而貧賤其行矣,如何能享? 聰明人宜斂藏,而反炫耀,是聰明而愚懵其病矣,如何不敗?
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Caigentan, Entry 33
放得功名富貴之心下,便可脫凡; 放得道德仁義之心下,纔可入聖。
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Caigentan, Entry 34
利慾未盡害心,意見乃害心之蟊賊; 聲色未必障道,聰明乃障道之藩屏。
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Caigentan, Entry 53
施恩者,內不見己,外不見人,則斗粟可當萬鍾之惠; 利物者,計己之施,責人之報,雖百鎰難成一文之功。
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Caigentan, Entry 56
奢者富而不足,何如儉者貧而有餘; 能者勞而府怨,何如拙者逸而全真。
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Caigentan, Entry 65
名根未拔者,縱輕千乘甘一瓢,總墮塵情; 客氣未融者,雖澤四海利萬世,終為賸技。
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Caigentan, Entry 101
生長富貴叢中的,嗜慾如猛火,權勢如烈燄。若不帶些清冷氣味,其火燄若不焚人,必將自爍矣。
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Caigentan, Entry 104
以幻迹言,無論功名富貴,即肢體亦屬委形; 以真境言,無論父母兄弟,即萬物皆吾一體。 人能看得破,認得真,纔可以任天下之負擔,亦可脫世間之韁鎖。
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Caigentan, Entry 111
市私恩,不如扶公議; 結新知,不如敦舊好; 立榮名,不如種隱德; 尚奇節,不如謹庸行。
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Caigentan, Entry 134
父慈子孝,兄友弟恭,縱做到極處,俱是合當如此,著不得一毫感激的念頭。如施者任德,受者懷恩,便是路人,便成市道矣。
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Caigentan, Entry 136
炎涼之態,富貴更甚於貧賤; 妒忌之心,骨肉尤狠於外人。 此處若不當以冷腸,御以平氣,鮮不日坐煩惱障中矣。
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Caigentan, Entry 148
事業文章隨身銷毀,而精神萬古如新; 功名富貴逐世轉移,而氣節千載一日。 君子信不當以彼易此也。
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Caigentan, Entry 156
交市人,不如友山翁; 謁朱門,不如親白屋; 聽街談巷語,不如聞牧唱樵歌; 談今人失德過差,不如述古人嘉言懿行。
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Caigentan, Entry 158
前人云:「拋卻自家無盡藏,沿門持鉢效貧兒。」又云:「暴富貧兒休說夢,誰家灶裏火無煙?」一箴自昧所有,一箴自誇所有,可為學人切戒。
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Caigentan, Entry 164
勤者敏於德義,而世人借勤以濟其貧; 儉者淡於貨利,而世人假儉以飾其吝。 君子持身之符,反為小人營私之具矣。惜哉。
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Caigentan, Entry 174
議事者,身在事外,宜悉利害之情; 任事者,身居事中,當絕利害之慮。
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Caigentan, Entry 179
陰謀怪習,異行奇能,俱是涉世的禍胎。殺身的利器,只一個庸德庸行,便可以完混沌而召和平。
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Caigentan, Entry 185
處富貴之地,要知貧賤的痛癢; 當少壯之時,須念衰老的辛酸。
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Caigentan, Entry 191
好利者,軼出於道義之外,其害顯而淺; 好名者,竄入於道義之中,其害隱而深。
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Caigentan, Entry 216
天賢一人,以誨眾人之愚,而世反逞其所長,以形人之短; 天富一人,以濟眾人之困,而世反挾其所有,以凌人之貧。 真天之戮民哉。
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Caigentan, Entry 223
譚山林之樂者、未必真得山林之趣。 厭名利之談者、未必盡忘名利之情。
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Caigentan, Entry 239
有浮雲富貴之風。而不必岩棲穴處。無膏肓泉石之癖。而常自醉酒耽詩。 競逐聽人、而不謙盡醉。 括淡適己、而不誇獨醒。 此釋氏所謂、不為法纏、不為空纏、身心兩自在者
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Caigentan, Entry 245
色慾火熾、而一念及病時、便興似寒灰。 名利飴甘、而一想到死地、便味如嚼蠟。 故人常憂死慮病、亦可消幻業而長道心。
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Caigentan, Entry 258
山林是勝地、一營戀便成市朝。 書畫是雅事、一貪癡便成商賈。 蓋心無染着、欲界是仙都。 心有係戀、樂境成苦海矣。
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Caigentan, Entry 263
此身常放在閒處、榮辱得失、誰能差遺我。 此心常安在靜中、是非利害、誰能瞞昧我。
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Caigentan, Entry 265
我不希榮、何憂乎利祿之香餌。 我不競進、何畏乎仕官之危機。
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Caigentan, Entry 273
欲其中者、波沸寒潭、山林不見其寂。 虛其中者、凉生酷暑、朝市不知其喧。
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Caigentan, Entry 274
多蔵者厚亡。 故知富不如貧之無慮。 高歩者疾顛。 故知貴不如賤之常安。
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Caigentan, Entry 301
烈士譲千乗、貪夫爭一文。 人品星淵也、而好名、不殊好利。 天子營家國、乞人号饔飧。 位分霄壤也、而焦思、何異焦聲。
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Caigentan, Entry 330
人生福境禍區、皆念想造成。 故釋氏云:利欲熾然、即是火坑、貪愛沈溺、便為苦海。 一念清淨、烈焔成池、一念警覺、船登彼岸。 念頭稍異、境界頓殊。 可不慎哉。
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Caigentan, Entry 343
世人為榮利纏縛、動曰塵世苦海。 不知雲白山青、川行石立、花迎鳥咲、谷答樵謳。 世亦不塵、海亦不苦、彼自塵苦其心爾。
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Caigentan, Entry 347
山林之士、清苦而逸趣自饒、農野之夫、鄙略而天真渾具。 若一矢身市井伹儈、不若轉死溝壑神骨猶清。
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Chuanxilu, 卷上 37
澄嘗問象山在人情事變上做工夫之說。 先生曰:「除了人情事變,則無事矣。喜、怒、哀、樂,非人情乎?自視、聽、言、動以至富貴、貧賤、患難、死生,皆事變也。事變亦只在人情裏。其要只在『致中和』,『致中和』只在『謹獨』。」
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Chuanxilu, 卷上 51
問:「孔子謂武王未盡善,恐亦有不滿意?」 先生曰:「在武王自合如此。」 曰:「使文王未沒,畢竟如何?」 曰:「文王在時,天下三分已有其二。若到武王伐商之時,文王若在,或者不致興兵,必然這一分亦來歸了。文王只善處紂,使不得縱惡而已。」
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Chuanxilu, 卷上 72
澄曰:「好色、好利、好名等心,固是私欲。如閒思雜慮,如何亦謂之私欲?」 先生曰:「畢竟從好色、好利、好名等根上起,自尋其根便見。如汝心中決知是無有做劫盜的思慮,何也?以汝元無是心也。汝若於貨、色、名、利等心,一切皆如不做劫盜之心一般,都消滅了,光光只是心之本體,看有甚閒思慮?此便是『寂然不動』,便…
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Chuanxilu, 卷中 143
三代之衰,王道熄而霸術焻;孔、孟既沒,聖學晦而邪說橫。教者不復以此為教,而學者不復以此為學。霸者之徒,竊取先王之近似者,假之於外以內濟其私己之欲,天下靡然而宗之,聖人之道遂以蕪塞。相仿相效,日求所以富強之說、傾詐之謀、攻伐之計,一切欺天罔人,苟一時之得,以獵取聲利之術,若管、商、蘇、張之屬者,至不…
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Chuanxilu, 卷下 209
先生曰:「人若知這良知訣竅,隨他多少邪思枉念,這裏一覺,都自消融;真個是靈丹一粒,點鐵成金。」
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Dao De Jing, Chapter 9
持而盈之,不如其已; 揣而梲之,不可長保。 金玉滿堂,莫之能守; 富貴而驕,自遺其咎。 功遂身退,天之道。
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Dao De Jing, Chapter 11
三十輻共一轂,當其無,有車之用。 埏埴以為器,當其無,有器之用。鑿戶牖以為室,當其無,有室之用。故有之以為利,無之以為用。
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Dao De Jing, Chapter 12
五色令人目盲,五音令人耳聾,五味令人口爽,馳騁畋獵令人心發狂, 難得之貨令人行妨。 是以聖人為腹不為目,故去彼取此。
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Dao De Jing, Chapter 36
將欲歙之,必固張之;將欲弱之,必固強之;將欲廢之,必固興之;將欲奪之,必固與之。是謂微明。 柔弱勝剛強。魚不可脫於淵,國之利器不可以示人。
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Dao De Jing, Chapter 39
昔之得一者, 天得一以清,地得一以寧,神得一以靈,谷得一以盈,萬物得一以生,侯王得一以為天下貞。其致之, 天無以清將恐裂, 地無以寧將恐發,神無以靈將恐歇,谷無以盈將恐竭,萬物無以生將恐滅,侯王無以貴高將恐蹶。故貴以賤為本,高以下為基。是以侯王自稱孤﹑寡﹑不穀。此非以賤為本邪?非乎?故致數輿無輿,…
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Dao De Jing, Chapter 42
道生一,一生二,二生三,三生萬物。萬物負陰而抱陽,沖氣以為和。人之所惡,唯孤﹑寡﹑不穀,而王公以為稱。故物或損之而益,或益之而損。 人之所教,我亦教之。 強梁者不得其死,吾將以為教父。
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Dao De Jing, Chapter 53
使我介然有知,行於大道,唯施是畏。 大道甚夷,而民好徑。 朝甚除, 田甚蕪,倉甚虛; 服文綵,帶利劍,厭飲食,財貨有餘;是為盜夸。非道也哉!
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Dao De Jing, Chapter 56
知者不言, 言者不知。 塞其兌,閉其門,挫其銳, 解其分, 和其光, 同其塵, 是謂玄同。故不可得而親,不可得而疏; 不可得而利,不可得而害; 不可得而貴,不可得而賤。 故為天下貴。
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