Non-cash temperament assets. Words I made up. Whether you are running a business or making a living, there are situations where money cannot solve everything. Not money or knowledge, but a person’s personality, disposition, intentions, emotions, etc., often shape circumstances and results. No matter how good an idea is, if it is not put into action, it is useless. It takes will and courage to act. Such will, courage, and passion are vital temperaments for tackling areas that money cannot address, and they seem to represent a kind of asset that yields results in accounting. Sometimes, audacity is required to achieve something, along with courage that knowledge alone cannot provide. Our lives cannot be successful solely with money and expertise. Investors should be mindful of the temperament of others. - Joseph’s “just my thoughts”
Debt inevitably incurs costs: the interest and the usage fee . Borrowing means using someone else’s property as if it were my own. When the purpose of borrowing is achieved, or when the agreed time to return it arrives, it is returned to another person’s possession, and the borrowing cost is no longer incurred. Costs also serve as the basis for production and are the consideration for almost all debts, regardless of the borrowing purpose. The frightening aspect of debt is that it incurs costs and requires repayment of the principal. Originally, the principal was not mine. Thus, spending with other people’s money exposes you to significant risks, especially when you spend on perishable consumption that disappears after use. If you spend someone else’s money without differentiating between production costs and costs for extinction , you are on the fastest path to destruction. Therefore, luxury can ruin even the rich. - Joseph’s “just my thoughts”