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”
It’s not that humans can simply throw it away or empty it because they possess something; instead, they exchange what is outside of them with what is inside of them. If you discard it, you will receive it. The people just don’t understand this law. To obtain what’s beneficial for you, you need to care for your surroundings. This is why self-management is essential. Not discarding—meaning trying to gain without exchanging—is referred to as greed or avarice. The heavier object in the swamp sinks faster. Escape from a crisis comes not from giving up, but from the exchange. - Joseph’s “just my thoughts”