As Voltaire said, “History never repeats itself; man always does.” Many interpret this saying differently, but the core message that human behavior is hard to change is clear. Since humans cannot predict the future, they can only forecast it based on past experiences. That’s the best way to anticipate what’s ahead. The current economic and financial landscape is driven by irrational human behavior that remains constant. It is not based on <hard skills> like investment techniques or mathematical formulas but on <soft skills> such as emotions, psychological reactions, and attitudes. Understanding humans helps us understand the world. Therefore, history and the humanities play a significant role in wealth building. However, it takes just a few soft skills to accumulate wealth, and ultimately, human actions shape a person’s destiny. In wealth building, soft skills and behavior matter more than grand theories or knowledge. - Joseph’s “just my thoughts”
Frugality and efficiency are complementary and must be balanced. Emphasizing savings can reduce efficiency, while emphasizing efficiency can lead to waste. In the world, when you emphasize one aspect, unintended side effects often occur in unexpected areas. Although they are invisible, various elements of the world are closely interconnected, and there are many situations in which humans do not understand these relationships. Achieving a balance among all elements at the proper level is a significant challenge. Leaders are those who undertake this difficult work. - Joseph’s “just my thoughts”