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”
Until that incident, he felt at ease, but David’s suffering began after he had laid Goliath on the ground. To dream of success, one must pay a fair price. The reason for avoiding payment is that people either don’t know how to pay the price or fear that their own payment will be wasted. Calculate profits and losses later. The costs associated with success must be paid upfront. Gifts are typically given and received on birthdays or Christmas. Can’t we not live in this world solely as gifts? - Joseph’s “just my thoughts”