The ugly lean poor, works hard physically in the Sun, eats plain, boring, freshly cooked, home food.
The sophisticated good looking rich sits on the couch in the air conditioned home, eats junk food all the time.
The poor doesn't even show #COVID__19 symptoms; it came & went!
The rich is checking the Oxymeter readings!
After all the day's hard work, the poor sleeps for 8 hours, gets up early to start all over again.
The rich is busy completing the web series, waking up in teh afternoon, with dreary eyes
The poor walks the entire day in the sun, stands in the public transport queue, lifts and carry weights all day.
The rich awaits earpods delivery to start the morning walk, as recommended by the physician. Posted a pic at the Gym, on Instagram in Jan 2020
The poor looks for a shade to have his lunch.
The rich is setting up a weekly reminder for Vitamin D supplements.
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Any significant decision making has to break through an iterative three layered P-conundrum: 1) Possibilities 2) Probabilities 3) Pay-offs
A decision maker needs to analyse various scenarios that can play out, what are the probabilities of each of these scenarios playing out and what are the payoffs or outcomes if any of these possibilities play out.
Decision Makers tend to falter at each of these stages.
Possibilities - A chess player, while analysing next moves, can simply miss a scenario that can cost her the match.
You will hear even the best proponents long term investing and compounding say that, "the problem with compounding is that most of the gains are back ended.”
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Often the example of Warren Buffet is quoted saying that most of wealth got generated after he crossed 70 years (even though he started at the tender age of 11!).
This statement is specious.
It gives you an impression that it is a slow way of gaining & it needs patience...
...and possibly there is a faster way of gaining other than compounding. Let me clarify here...with the exception of sub-atomic world, a lottery, or adoption by a wealthy person or any such plain luck, there is no quantum leap in real life.
Compounding - the fundamental phenomenon behind every success
Compounding is said to be the 8th wonder of the world. Rightly so. It is the fundamental phenomenon behind any success in any domain - evolution, success, investing, fitness, skill development, relationships & so on.
Here is a statement that I have probably made the most on Twitter - Right from the Big Bang, which led to the advent of the universe, to the success of Facebook & Amazon, every success has undergone a compounding (every failure too has compounded at a negative growth rate!).
In plain english, the phenomenon of Compounding is that Success begets success. Every success: 1) makes a system inherently strong 2) opens new avenues, and paves way for future success
Amazon, which started as a e-store for books, built on initial success and ...
Next time when you walk (I know, it may take hours before you do that!😉), put your hands at your lower back, or lower side or lower front. Feel the tightness, the core muscles undergo alternately, as you move left foot & right foot.
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When you stand & walk, these core muscles are continuously working, keeping things together in giving you support & stability.
To understand the kind of work these muscles do, refer to an extreme example, like walking on the Burma Bridge. If you've never, try it; for the time being watch some videos. This image may also help you relate to it.
Every step is an test for the strength of the core muscles!
Kids drift towards bad behaviour spontaneously (while it takes a lot of effort to imbibe good habits in them). What looks like a minor aberration initially, soon builds on into a bad habit. If left on their own, the bad habits get permanently etched in their psyche.
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The more you, as a parent let them go adrift, the more difficult it becomes to bring them back on track.
What we need to do as a parent?
Three things...
1) Set a good example yourself. Kids observe you, imitate you. You smile, they smile; you shout, they shout.
These are two similar sounding words. Infact, one word is often used in explaining the meaning of the other.
However, there's a sea of difference between the two, INHO.
...and the difference is a plan. A plan to deal with contingencies and uncertainties.
Life is a complex system by definition. Some characteristics of life: 1) It's composed of simple events - personal or extraneous 2) These simple events interact with our lives and make a profound path breaking impact 3) Such interactions lead to more events and more impacts