Credit Rating and Required Rate of Return: Suppose you and Warren Buffett borrow money from a bank. The bank will assess your credit ratings differently. Maybe the bank could offer Warren Buffett a loan without interest since it can be advertised as a bank used by the renowned investor. However, it will likely charge you interest because you have a lower credit rating and less fame than Warren Buffett. The interest rate each borrower faces, based on their creditworthiness, is called the required rate of return for creditors. Under the same conditions, the cost of poverty is much higher for the poor than for the rich. Poverty inherently involves costs. - Joseph’s “just my thoughts”
Both arrogance and humility can contribute to our success. While humility is not the sole key to achievement, it enables a connection with someone who genuinely cares. That individual may represent everything I need in life. Ultimately, success can be seen as cultivating a deep bond with the person who truly loves you. If you can nurture multiple meaningful relationships throughout your journey, beyond that loving individual, you should regard yourself as blessed with humility. - Joseph’s “just my thoughts”