Investment and Life Lessons - Part 3

Here's the part 3 of my previous post regarding the lessons/quotes I've encountered in my various readings on business, stocks, economy, money, war and life. My list is getting too long again hence I'm sharing it with the Filipino Investors out there for them to learn a thing or two. Cheers!

1. Humble thyself
2. Failure after long perseverance is much grander than never to have a striving good enough to be called a failure - George Eliot
3. Behind every successful trader lies a string of trading failures
4. Face the wind - Vito Dagoy
5. Hard work beats talent when talent doesn’t work hard
6. If people only knew how hard I work to gain my mastery, it wouldn’t seem so wonderful at all.  ~ Michelangelo
7. Work hard in silence, let success make the noise.
8. One of the most important skills, then, that we can teach our children is to think about numbers logically and critically, and enable this sort of querying and verification. The goal of these skills is not to see if the number you’ve encountered is exactly correct, but only to see if it is approximately correct— that is, close enough to be plausible.
9. When I examine myself and my methods of thought, I come close to the conclusion that the gift of imagination has meant more to me than any talent for absorbing absolute knowledge. . . . All great achievements of science must start from intuitive knowledge. I believe in intuition and inspiration. . . . At times I feel certain I am right while not knowing the reason. - Albert Einstein
   
10. Imagination is more important than knowledge - Einstein
11. The greatest scientists are artists as well. - Einstein
12. The key to change is having faith that when we get rid of the old, something or someone even more will take its place.
13. We all want to believe that we can do many things at once and that our attention is infinite, but this is a persistent myth.
14. Whenever we encounter information in the form of numbers, it is important to do a quick mental check to see if the numbers reported are even plausible.
15. When you do something noble and beautiful and nobody noticed, do not be sad. For the sun every morning is a beautiful spectacle and yet most of the audience still sleeps. - John Lennon
16. Every great person I know spends 1% of the time on the problem and 99% of the time on the solution - Tony Robbins
17. Complexity is the enemy of execution - Tony Robbins
18. People conveniently divide what ever makes them feel good - Tony Robbins
19. Whatever you focus your attention to - you feel.. w/c explains what causes people to get depressed
1. If you focus on the things you can’t control vs what you can control
2. If you focus your attention on things that you don't have vs what you have
3. If you focus on the past vs the present/future
20. People can take away what you have, but they can't take away who you become, and who you become will make you very happy or very sad - Tony Robbins
21. Shift the burden of organizing from our brains to the external world.
22. Wealth is character, competence, connections and consciousness - Bo Sanchez
23. Money can become sacred if your purpose is sacred
24. Do not pursue prosperity, pursue purpose. And when you pursue purpose, prosperity will come chasing after you - Bo Sanchez
25. People will always want to deal with persons of integrity
26. People before things
27. Be the baker, bake more wealth pies
28. The most important thing is Family
29. It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat. - Theodore Roosevelt
30. Sell cheap, tell the truth, and don’t cheat nobody. - Mrs. B
31. Environment trumps intellect
32. Buffett and Munger joke that envy is the only one of the seven deadly sins that isn’t any fun. “Envy is crazy,” remarks Munger. “It’s 100 percent destructive. . . . If you get those things out of your life early, life works a lot better."
33. Who is strong? He who masters his own passions.
34. We’re phenomenal suckers for flattery.
35. We tend to believe praise and those who provide it.
36. It’s always easier to be truthful because you don’t have to remember your lies.
37. “If you’re even a slightly above average investor who spends less than you earn, over a lifetime you cannot help but get very wealthy— if you’re patient.” - W. Buffet
38. As Warren Buffett has said, if you weren’t scared, you weren’t paying attention. Re-2008 financial crisis
39. According to Warren, temperament is more important than IQ when it comes to investing.
40. All of humanity’s problems stem from man’s inability to sit quietly in a room alone. - Blaise Pascal
41. The human brain is said to run on about 12 watts— in other words, only a fifth of the power that’s needed by a 60-watt light bulb.
42. I’m sorry. But I have a rule that I don’t allow myself to buy anything that’s being sold to me. - Guy Spier
43. There’s no limit to what you can do if you don’t mind who gets the credit. - Ronald Reagan
44. When you get to my age, you’ll really measure your success in life by how many of the people you want to have love you actually love you. I know people who have a lot of money, and they get testimonial dinners and they get hospital wings named after them. But the truth is that nobody in the world loves them. If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster. That’s the ultimate test of how you have lived your life. - WB
45. The trouble with love is that you can’t buy it. You can buy sex. You can buy testimonial dinners. You can buy pamphlets that say how wonderful you are. But the only way to get love is to be lovable. It’s very irritating if you have a lot of money. You’d like to think you could write a check: I’ll buy a million dollars’ worth of love. But it doesn’t work that way. The more you give love away, the more you get. - WB
46. Hang out with people better than you, and you cannot help but improve. - WB
47. Be the best version of yourself - WB
48. The satisfaction resulting from any small increase in wealth will be inversely proportionate to the quantity of goods previously possessed.
49. The word “risk” derives from the early Italian risicare, which means “to dare.”
50. The greatest advantage from gambling comes from not playing it at all. - Girolamo Cardano
51. The freedom of thought, the passion for experimentation, and the desire to control the future were unleashed during the Renaissance.
52. Money can't buy me love - The Beatles
53. Tough times never last, but tough people do
54. Tell me where I will die so I will not go there - Charlie Munger
55. hara hachi bu. Roughly translated, this means eating until you are 80 percent full;
56. 2009 study by the Rush Alzheimer’s Disease Center in Chicago showed that staying busy and having a sense of purpose helps people live longer.
57. Dont be too aggressive selling options
58. Be prudent without being obsessive
59. “Keep a quiet heart, sit like a tortoise, walk sprightly like a pigeon, and sleep like a dog.”
60. Sex may be a biological fountain of youth. Each time a person reaches orgasm, levels of the hormone dehydroepiandrosterone (DHEA) in his or her body rise. DHEA is associated with maintaining healthy skin and tissue as well as improving cognition.
61. In ancient Rome, for example, the marital bed was used only for sex, not sleeping.
62. The normal food of man is vegetable - Charles Darwin
63. Forever is composed of nows - Emily Dickinson
64. So many people spend their health gaining wealth, and then have to spend their wealth to regain their health. - A. J. Reb Materi
65. I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times - Bruce Lee
66. A man with options is a man with power
67. History does not repeat itself but it rhymes
68. Empirical truths cannot be known with absolute certainty - Karl Popper
69. Advice is one thing that is freely given away but watch that you will take only what is worth having. - Algamish
70. The biggest challenge in life: You can have more than you’ve got because you can become more than you are. - Jim Rohn
71. Gentlemen, based on my wide experience I can really honestly say to you; in the 80’s it’s gonna be about like it’s always been. - Jim Rohn
72. Some people don’t do well because they major on minor things. - Jim Rohn
73. Learn how to handle the winters
74. It’s not what happens, it’s what you do. What happens is about the same, what you do is what’s different
75. If anything can go wrong, it will - Murphy’s Law
76. The Law of Use: What you don’t use, you lose
77. The Law of Sowing and Reaping: Whatever you sow, you shall reap
78. Take risks and do something bold, you wont regret it - Elon Musk
79. The natural human tendency is wishful thinking - Elon Musk
80. Usually your friends know what’s wrong but they don’t wanna tell you what’s wrong because they don’t want to hurt you
81. The whole of science is nothing more than a refinement of everyday thinking - A. E.
82. New traders ask what stocks to buy. Average traders ask when to sell. Great traders ask when can we have coffee and drinks.
83. In the end, success requires no explanations. If it's not gonna be you, it's going to be someone else. Life's battles don't always go to the stronger or faster man. The one who wins is the one who thinks he CAN. - Zandro Zulueta
84. The path is the goal - Vietnamese monk
85. The key is to use the good times to prepare for the challenges ahead - JAZA
86. It's not over until I win - Les Brown
87. It's better to be prepared for an opportunity and not have one than to have an opportunity and not be prepared - Les Brown
88. Destiny waits for no man
89. Make plans like an adult and believe in them like a child - Jim Rohn
90. Everyday stand guard on the door of your mind - J.R.
91. Some people don't do very well because they major on minor things - J.R.
92. Law of use - What you don't use, you lose - JR
93. Opportunity shy's away from need but opportunity is attracted with talent and ability - JR
94. Walk away from the 97% - JR
95. If you want to get the things on the higher shelf you've got stand on the books you read
96. Profits are better than wages. Wages make you a living, profits make you a fortune - JR
97. Your income is directly proportional to your philosophy not to the economy - JR
98. You'd be as happy as you make up your mind to be, now - Abraham Lincoln
99. Make sure what you do is a product of your own conclusion - JR
100. Always work harder than what you are paid for - JR
101. I fought a good fight and I kept the faith - JR
102. The future of security prices is never predictable - Ben Graham
103. I'd rather regret things I've done than things I haven't done - Lucille Ball
104. Commitment is an act, not a word - Jean-Paul Sartre
105. Carpe diem (CAR-pay DEE-em)
106. The best way to make your dreams come true is to wake up
107. Whenever you find yourself on the side of the majority, it is time to pause and reflect. - Mark Twain
108. Everything popular is wrong. - Oscar Wilde
109. You don't stop having fun because you get old; you get old because you stop having fun
110. The rule of opposites - The more enthusiastic investors become about the stock market in the long run, the more certain they are to be proved wrong in the short run. - Benjamin Graham
111. In the financial markets, the worse the future looks, the better it usually turns out to be.
112. Blessed is he who expecteth nothing, for he shall never be disappointed. - G. K. Chesterton
113. After you burn your mouth on hot milk, you blow on your yogurt - Turkish proverb
114. Life can only be understood backwards, but it can only be lived forwards - Søren Kierkehaard
115. Looking back, you can always see exactly when you should have bought and sold your stocks. But don't let that fool you into thinking you can see, in real time just when to get in and out. In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility - Ben Graham
116. It requires a great deal of boldness and a great deal of caution to make a great fortune; and when you have got it, it requires ten times as much wit to keep it. - Nathan Mayer Rothschild
117. The happiness of those who want to be popular depends in others; the happiness of those who seek pleasure fluctuates with moods outside their control; but the happiness of the wise grows out of their own free acts. - Marcus Aurelius
118. The primary cause of failure is that they pay too much attention to what the stock market is doing currenty - Benjamin Graham
119. Investing intelligently is about controlling the controllable - Ben Graham
120. No ones's gravestone reads "HE BEAT THE MARKET"
121. In the end, what matters isn't crossing the finish line before anybody else but just making sure that you do cross it.
122. The ideal rulers are those who do not want to govern - Plato
123. Make them so busy, that they don't think of complaining anymore - Lee Kuan Yew
124. Can the past growth and presumably good prospects of Emery Air Freight justify a price more than 60x it's recent earnings? Our answer would be: Maybe for someone who has made an in-depth study of the possibilities of this company and come up with exceptionally firm and optimistic conclusions. But not for the careful investor who wants to be reasonably sure in advance that he is not committing to the typical Wall Street error of over enthusiasm for good performance in earnings and in the stock market. - Ben Graham
125. When you are rich and famous, it gives you a platform to attribute success to things of your choosing.
126. Everyone has the brainpower to make money in stocks. Not everyone has the stomach. If you are susceptible to selling everything in a panic, you ought to avoid stocks and stock mutual funds altogether - Peter Lynch
127. Whatever worth doing at all is worth doing well
128. Cogito ergo sum (COG-it-o ER-go sum) (I think, therefore I am)
129. Audentes fortuna iuavat (Fortune favors the bold)
130. Generally, I can’t change what I’ve done, so regretting anything I do is generally a waste of time - Tyrael
131. It is better to be approximately right than to be precisely wrong - WB & CM
132. An equally harmful mistake is to buy a fair or so -so business at a cheap price. Top investors like Warren Buffett and John Templeton are convinced that buying good businesses at fair prices usually pays off much better than buying fair businesses at good prices
133. Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price - Warren Buffett
134. It is necessary; therefore it is possible - Guiseppe Antonio Borgese
135. The number of truly attractive companies is fairly small - Philip Fisher
136. Markets can remain irrational longer than the you can remain solvent - John Maynard Keynes
137. The most common cause of low prices is pessimism – sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It’s optimism that is the enemy of the rational buyer - WB
138. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell - John Templeton
139. When I see hysteria, I usually like to take a look to see if I shouldn’t be going the other way. Just about every time you go against panic, you will be right if you can stick it out - Jim Rogers
140. Warren Buffett warns that one should stay away from stocks if one can’t stand losing about 50% of one’s investment
141. Only 1 in 100 survived the 1929-32 debacle if one was not bearish in 1925 - Ben Graham
142. If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes - WB
143. While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster - Ben Graham
144. A wise man learns by the mistakes of others. A fool by his own. ~Latin Proverb
145. Instant action is seldom required for real opportunities and it is a mistake to throw in the towel after a long wait. - Peter Lynch
146. The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple. - Charlie Munger
147. There is a persistent overall tendency for equity to flow from the many to the few. In the long run, the majority losses. The implication for the trader is that to win you have to act like the minority. If you bring normal human habits and tendencies to trading, you’ll gravitate toward the majority and inevitably lose. - William Eckhart
148. Let me emphasize that it does not take a genius or even superior talent to be successful as a value analyst. What it needs first is, reasonable good intelligence; second, sound principles of operation; third, and most important, firmness of character. - Benjamin Graham
149. Never underestimate a man who overestimates himself - CM
150. A man provides. And he does it even when he's not appreciated, or respected, or even loved. He simply bears up and he does it. Because he's a man. - Gus Fring