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”
In fact, more often than not, a multitude of thoughts leads to a choice disorder, primarily because you don’t know yourself well. Self-needs are easily recognized, yet many individuals lack awareness of their desires. Desire is often intricately wrapped in morality, making it more likely that you remain oblivious to it. If you don’t understand what you want, you’ll hesitate to make a choice. This results in the worry that your choices won’t satisfy desires you ’ re unaware of. Having a healthy mind entails honestly aligning your choices and decisions with your desires. Nevertheless, morality, dignity, and concern for others often hinder honest choices. - Joseph’s “just my thoughts”