The foundation of intelligence is memory. Without memory, intelligence cannot develop or function properly. Creativity also relies on memory as a necessary prerequisite. Forgetting is also a phenomenon caused by memory. If there were no memory, there could be no forgetting. Without forgetting, memory capacity becomes overloaded, leading to various issues. From a memory perspective, forgetting is something to be grateful for. Essentially, intelligence is driven more by memory than by logic. The strength of memory shapes priorities and influences value formation. However, humans have eventually delegated memory to external tools outside of our consciousness, not our brains. These are called records. Examples include books and cell phones. Your cell phone is an extension of you. - 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”