Joseph's "Just My Thoughts"

Everyone is aware of their own shortcomings. Personal judgment based on individual experience can be either an advantage or a disadvantage. One’s experiences and circumstances influence how these advantages and disadvantages are perceived. As circumstances change, so do the benefits and drawbacks. For example, if the trait of being unable to form long-term relationships due to untrustworthy people is a disadvantage, it can become an advantage when dealing with a scammer. If you’re troubled by a shortcoming that’s difficult to fix, I suggest changing your perspective. Instead of trying to fix the shortcomings, consider changing how you interpret the situation. This way, disadvantages can actually turn into benefits. However, shifting your point of view on your own can be challenging. - Joseph’s “just my thoughts”

If God granted me only one ability to become wealthy, I would not hesitate to ask for the skill of ‘storytelling.’ ‘Storytelling’ is the ability to choose how to interpret the same phenomenon or fact and how to communicate the message I want to convey persuasively. Ultimately, the world takes sides and gains support through the interpretation and explanation of stories. Gaining attention and support from people is the foundation for achieving a lot from nothing. In a time when there was no modern media, the most popular people were grandmothers and grandfathers who could tell entertaining oral stories every night before bed. - Joseph’s “just my thoughts”

Life is a journey to find intersections. It’s about discovering commonalities between two different attributes: what I want to do and what I am good at, what I recognize and what others recognize, and what I have to do and what I want to do. Knowing your identity well increases your chances of success. However, many people focus only on what they want to do. This mindset can weaken the connection between me and others. We live each alone in this world, but not completely alone. - Joseph’s “just my thoughts”

In <What Is Life?>, written by Lynn Margulis and Dorion Sagan, there is an expression, “Independence is a political term, not a scientific term.” Independence is the state in which a person can live alone without help or influence from others, using their own strength and ability. The condition of being physically separated from the community is called “isolation.” Independence and isolation are different. Isolation should not be mistaken for independence. To exclude influence and secure autonomy is independence, while deliberately cutting off relationships is isolation. Independence is based on achievement; isolation is based on hurt. To grow, you must be independent, not isolated. - Joseph’s “just my thoughts”

Austrian psychiatrist Julius Wagner-Jauregg had a remarkable talent for recognizing patterns. When a common tendency appears, it’s called a pattern. Finding common ground also involves identifying problems or finding solutions. Before the discovery of penicillin, Julius was searching for a way to treat neurosyphilis but accidentally discovered that the condition was cured when the patient developed a severe fever from another disease. Julius intentionally infected a patient with malaria to induce a fever, and when the fever rose, he used quinine to treat malaria and saved the syphilis patient. Without treatment, syphilis had a 30% survival rate, but with malaria-induced fever, the survival rate increased to 60%. The survival rate was doubled. For this work, he was awarded the Nobel Prize in Medicine in 1927. Although high fever causes pain in humans, it also signals that the immune system is active. Recognize patterns to solve problems. - Joseph’s “just my thoughts”

Investing means investing time, not people or assets. The object you invest in doesn’t generate money; time does. Failing to understand the role and principles of time in business and investment is a waste of energy. Because time is invisible, we often overlook it or fail to recognize its impact and role. This world is driven by probability. When dealing with probability, the first thing to consider is the invisible nature of time. Ignoring this fact leads to waste and inefficiency without us even realizing the damage. - Joseph’s “just my thoughts”

At Berkshire Hathaway’s 2013 shareholders’ meeting, Warren Buffett said, “I’ve owned 400 to 500 companies’ stocks in my lifetime, but only about 10 of them made the most money.” His lifelong friend and investment partner, Charlie Munger, added, “With the exception of some of Berkshire Hathaway’s best investment practices, long-term performance is near-average.” Many people know Warren Buffett’s return on investment better than his mistakes or failures. It’s because of those 10 companies that he succeeded in investing. If there is a positive, there must be a negative. It’s better to prepare a realistic alternative in case you fail than to try to avoid failing. Humans are probabilistic beings. - Joseph’s “just my thoughts”

Walt Disney gained worldwide fame with the animated film ‘Steamboat Willie,’ but Disney’s first studio went bankrupt. By the mid-1930s, he had produced over 400 animations, most of which suffered heavy losses. In 1938, Snow White and the Seven Dwarfs made $8 million in just the first half—more than ten times the earnings of other films. Meanwhile, with this animation, the company paid overdue wages to its employees and recovered the losses it had sustained. An unusual event that changes everything is called a “tail event.” 40% of publicly listed companies in the U.S. stock market lose nearly all their market capitalization 10 years after going public. Business and investing, after all, are based on probabilities. No one knows what the “tail event” will be. Therefore, to succeed, you need to try small, steady, many times with little impact, even if you fail. - Joseph’s “just my thoughts”

Maintaining even a small annual profit is advantageous in investing. Survival remains the most critical factor in business. People have sought the secret to Warren Buffett’s success, which is the power of compounding, but they overlook the real key: he has invested consistently for 75 years without pause. You can indeed succeed in your business endeavors through sheer survival; conversely, you cannot survive solely because of your success. Survival is only achievable if you have the strength to keep going, even with minimal returns. To do this, you must do what you love. Invest in stocks you like, and continue investing even if it is volatile. Next, you need to secure a “margin of safety.” Even a small margin ratio is crucial because a business can’t survive without margins. Frugal spending, flexible thinking, loose schedules—anything that helps during tough times—can all contribute to building a margin of safety. - Joseph’s “just my thoughts”

According to Morgan Housel, a financial author, whether an investor is safety-oriented or risk-oriented is mainly shaped by early adult experiences, not by intelligence or education. It depends on where and when a person is born. The region I live in, including my country and the era, greatly influences a person’s economic outlook and ability. If you feel ‘no way,’ you might need to change your location. Even when evaluating others, if you estimate ‘no way,’ you should consider having them leave the place. In the Bible, when someone changes their life, the first thing God does is move them from one place to another. - Joseph’s “just my thoughts”

The world of investing is full of uncertainty. Even if we understand the past, we cannot predict the future, and past patterns are not always reliable. To maintain stability and protect my interests in an uncertain world, I need to know my own limits for change. Based on these limits, I should develop small, regular response patterns. In other words, the key to overcoming uncertainty is my own consistency, guided by the thresholds I observe in the world around me. Small, steady behaviors and habits can help manage or minimize the impact of uncertainty. No one invests without expecting the asset’s value to increase over time. The issue is that no one can truly predict the future, and even correct predictions are mostly based on probability and luck. However, from a broader perspective, microscopic risks can be managed. For example, the macro principle “Every human dies” must be 100% true, even if individual behaviors are unpredictable. - Joseph’s “just my thoughts”

If you’re not a full-time investor and are considering an investment method, start by defining your identity. That means deciding what your main job is and what your side job is because it greatly affects your time management in investing and influences your results. If you can’t monitor stock trading daily or hourly, then you’re not a full-time investor and should treat investing as a side job. How I allocate my time for investing plays a crucial role in choosing and deciding how to invest. There are many different ways to invest around the world. Impatience is the main mistake that can ruin both my life and my investments. My view of time is that it’s my life. - Joseph’s “just my thoughts”

Survival is true success. No matter how successful you are, you can’t grasp the fruit with your hands if you can’t survive, and survival itself results from choosing excellence—something no one can fully attain. Of course, luck also plays a role in survival. So, survival is never easy. During tough times, these words of wisdom can help: “This too shall pass.” But we also need to prepare for what to do once that “passing time” has truly gone by. When you succeed, remember, “This too shall pass.” Whether it’s good fortune or disaster, success or failure, you should see all of these as just “processes.” However, if you see them as “conclusions,” everything is wasted. These attitudes demonstrate why a peaceful mind is the most useful and humility is the most valuable asset. In front of the “process,” everything is a high-variability asset whose value shifts. Even suffering follows the same principle. - Joseph’s “just my thoughts”

Businesses are more likely to succeed if they are intuitive. Education should also be intuitive to improve the learning experience. Most famous entrance exam instructors communicate principles or knowledge intuitively. To teach well means to teach in an intuitive way. A good example of intuition is ‘advertising,’ because it must deliver the core message quickly. If you cannot intuitively communicate your business or identity, internal members will struggle to communicate effectively with outsiders. People subconsciously reject complex content and complicated delivery methods. Efficient communication saves money and also boosts purchasing power. To stay competitive, you need to be intuitive. Intuition means that a message’s meaning and purpose can be conveyed with just one sentence or one word without any extra explanation. - Joseph’s “just my thoughts”

A baseball batter cannot hit a home run every at-bat. You might make a lot of money once with luck, but that’s a fleeting way to earn. If you generate a lot of money without even preparing a bowl, you might end up unhappy. The reason for emphasizing the ‘compound effect’ in investing is because it’s one of the few sustainable methods mankind has experienced. However, compared to our greed, ‘compound interest’ seems like a small rate of return right now, so many people break the rules they need to follow and take risky investments, putting themselves in danger. We can’t hit a home run every day. Valuing small profits and working to protect them will bring us good fortune. Greed leads to destruction. - Joseph’s “just my thoughts”

The examples of successful people should serve only as references, but you should use them as opportunities to reflect and consider yourself as the key to success. If you generalize the success secrets of successful people, you will eventually end up with meaningless advice that offers hope, and you might even undermine yourself. The circumstances, timing, qualities, and talents of successful people are not the same as mine, so it’s risky to generalize their secrets. Instead of making such broad assumptions, you can only succeed if you develop your own philosophy and approach based on your inclinations, qualities, and circumstances, using success secrets as inspiration. No matter how good the clothes are, if they don’t fit my body, they are useless. - Joseph’s “just my thoughts”

Milutin Milanković argued that the Earth’s Ice Age was caused by a change in the Earth’s orbit around the sun. This change is said to affect the inclination of the Earth’s northern and southern hemispheres and reduce the amount of solar radiation . However, the main reason is believed to be that summer isn’t hot enough. The ice kept accumulating as summer passed, and winter arrived before all the ice could melt. Even in our lives, things we neglect tend to build up and lead to big problems. Small, untreated chores can produce significant results over time. Good luck or bad luck, maybe that’s all there is. - Joseph’s “just my thoughts”

As Voltaire said, “History never repeats itself; man always does.” Many interpret this saying differently, but the core message that human behavior is hard to change is clear. Since humans cannot predict the future, they can only forecast it based on past experiences. That’s the best way to anticipate what’s ahead. The current economic and financial landscape is driven by irrational human behavior that remains constant. It is not based on < hard skills > like investment techniques or mathematical formulas but on < soft skills > such as emotions, psychological reactions , and attitudes. Understanding humans helps us understand the world. Therefore, history and the humanities play a significant role in wealth building . However, it takes just a few soft skills to accumulate wealth, and ultimately, human actions shape a person’s destiny. In wealth building, soft skills and behavior matter more than grand theories or knowledge. - Joseph’s “just my thoughts”

People say content is money. That may be true, but money itself is also a type of content. Money is a way to exchange value or build wealth , but it also carries humanity’s stories . We cry and laugh because of money. Money reflects the rise and fall of empires or nations, hiding great stories inside it. Most top YouTube channels focus on content about money and wealth. We often hallucinate money with content . However, we don’t realize that money itself is an ingredient of content . - Joseph’s “just my thoughts”

Most economic concerns are at the core of the conflict between the price of goods and the value of money . An increase in interest rates means a higher cost for borrowing money. This also causes the value of money to rise. Investors want to own an asset that will appreciate in value. They consider whether to buy a good or a currency. Investing in stocks means buying a company, while buying bonds means buying fiat currency . Most investors see these two concepts as corresponding concepts, not assets of the same nature. The proposition that money buys goods represents a very significant aspect of investing. If you want to invest well, you should get a hint from this proposition. Money appeared because of the convenience of exchanging goods, but in the world of investment, it always results in a confrontation between goods and money. - Joseph’s “just my thoughts”

All investments should be evaluated based on opportunity cost versus time. Are you investing for the short term or the long term? And which option would be more efficient and profitable if you invested elsewhere instead of this? The idea behind recommending long-term stock investments is that high-quality securities tend to benefit from inflation . Inflation happens when the prices of goods increase faster than the value of money. Wouldn’t a producer only make a good if its price exceeds its monetary value? However, if this gap is too large, the consumer experiences volatility. That’s why the efficiency of using money declines because you need money to buy things. This principle explains why stock prices tend to rise over time if you hold high-quality stocks long enough. Therefore, investing is often referred to as investing in time —because over time, it adds value. - Joseph’s “just my thoughts”

Making money and avoiding losing it are two different things. There is no guarantee that you won’t lose the money you’ve gained just because you make money well. Wealth can’t be achieved unless it’s supported by the right attitude toward money , proper management principles, and the psychological mindset and self-control suitable for the situation. You can gain some wealth through your skills and abilities, but this is less about being wealthy and more about your psychology, attitude toward money, and worldview. Therefore, being smart doesn’t necessarily make you rich. Most importantly, you need to have a clear understanding of your own identity. - Joseph’s “just my thoughts”

Business debates who benefits most from time . When borrowing money, the debtor gains the benefit of time until the repayment date. Since the period before repayment favors the debtor, the debtor compensates the creditor with interest . However, as the repayment date approaches, time shifts to favor the creditor. After the due date, the debtor loses the benefit of time, known as ‘acceleration of debt,’ and must repay both the principal and interest. Time benefits debtors but poses risks to creditors. Therefore, lending money without interest results in a loss. All of this illustrates the power of time. Time is money, and money derives its value from time. The most important factors for CEOs to focus on are time and, next, opportunity cost . - Joseph’s “just my thoughts”

Greed isn’t about how much you want, but about wanting something without paying for it . Nothing in this world is free ; everything has a cost, whether seen or hidden. Trying to get something for nothing leads to problems and consequences . What am I actually paying now , and for what? It’s useful to think about this from time to time. - Joseph’s “just my thoughts”

What is the most interesting story you know in your life? Why was that story interesting and engaging? A detailed analysis of the reasons reveals what kind of story material attracts people and how they respond to sharing these stories. Sometimes, the way you tell the story and the grammar of your words matter, and the impact of my message varies greatly depending on which aspect of the same material is emphasized. As the story unfolds, you must convey what you need to get across. Increasing sales, raising investment, and persuading others all depend on storytelling . People always gather around those who tell interesting and meaningful stories. Attention asset : attracting people’s attention creates an asset. However, managing these attention assets is a challenge of its own. - Joseph’s “just my thoughts”

Storytelling is the foundation and framework of communication. It’s essential to convey values in an easy, engaging, and emotional way. The world is filled with stories, many of which are reborn with different values depending on how they are processed. Investment, management, and love are all forms of storytelling. This world craves stories. Myths in ancient times, religion in the Middle Ages, and media today all process and share stories. Entrepreneurs are storytellers. However, most people in business tend to overlook telling stories and only focus on presenting products and services. No product or service enters the world without a story. - Joseph’s “just my thoughts”

For a good to be distributed in the market, it must have value. Its value stems from several factors. In a complex world where networks and communication have advanced, values are assigned to groups with similar preferences. So, now, more than in previous eras, business is more prominent in the mania class, such as online clubs . The same applies to digital assets like NFTs . Ultimately, to be recognized for an unseen value, it must first be distributed by a group with the same preference that recognizes that value. Therefore, digital assets are mainly created by clubs, and to be acknowledged for their worth, the story behind the digital asset is absolutely essential. Storytelling has always been a very important asset. - Joseph’s “just my thoughts”

Threshold . A boundary value at which a physical phenomenon begins to change. This world is constantly evolving. It doesn’t stop at change but also significantly influences other elements and the surrounding environment. Just like the slightest movement of an Amazon butterfly can trigger a storm across the Pacific Ocean. We live in a world where even small changes can have major impacts and outcomes. Recognizing the threshold before a shift occurs can help us prepare for hardships and alert us to danger. These thresholds exist in various fields that make up our world. It’s just that we often don’t know or suspect them. Surviving in this era is an achievement. - Joseph’s “just my thoughts”

Consilience . When information is gathered to form knowledge and then used to gain insight through inspiration, it becomes wisdom. The world we live in is now multidimensional and a complex system . You can’t correctly interpret and understand it using only the simple patterns of a limited worldview . After collecting and discarding fragments of information and scattered knowledge, we must reconnect them to discover new patterns. Consilience is the ability to see wisely in a world filled with significant volatility and uncertainty . It’s a world where mistakes are easy to make if we only focus on one side. - Joseph’s “just my thoughts”

Egoistic Mind . Traditional education that emphasizes social interaction often views ‘ selfishness ’ as a negative trait. However, selfishness is a necessary component for survival. The problem arises when selfishness is solely focused on oneself, as it can damage social bonds and community life . I believe that selfishness and sociality are qualities that should be balanced and complemented, not seen as mutually exclusive. Ultimately, selfishness should align with social interests. I call this positive form of selfishness “ altruistic selfishness .” It means making choices that satisfy your own needs first, but ultimately acting in a way that promotes happiness for both yourself and your neighbors. - Joseph’s “just my thoughts”

Tracking. Media have existed since primitive times, including the Middle Ages . Although the forms of media have been different, their core properties have remained the same. Marshall McLuhan ’s definition of media, “ the medium is the message ,” remains relevant and will continue to be so in the future. Regardless of the form media takes, this definition indicates that the medium itself does not leave the message frame. By observing the interaction between media messages, the audience, and the environment, we can improve our ability to judge the world and understand the crucial contexts of this era. The media also influences the economy, and the same applies to politics. Without the ability to understand media, we cannot judge the world accurately. This ability develops from constantly observing how media messages react with audiences. Therefore, maintaining a mindset of continuous pursuit allows us to read the narrative that drives the world, and the judgments based on this understan...