Do you have a favourite life-changing investing quote?
Something that impacted you beyond just $$.
Here's mine, from Nick Sleep's Nomad letters. 👇
It reminded me that wealth should be used to improve society and the lives of others.
Not for personal indulgence and excess:
Something that impacted you beyond just $$.
Here's mine, from Nick Sleep's Nomad letters. 👇
It reminded me that wealth should be used to improve society and the lives of others.
Not for personal indulgence and excess:
"Investors can think their way to success without seeming to work in the traditional sense and the payoff in capitalism from stock picking can be extraordinary...
It is one thing for capital allocators to be rewarded for their efforts.
But, in our opinion, taking personal identity in everything above X-amount is not a route to building a better world.
From the early days Zak and I mused over a concept we called “X-amount”...
But, in our opinion, taking personal identity in everything above X-amount is not a route to building a better world.
From the early days Zak and I mused over a concept we called “X-amount”...
Where X was the amount of money that we felt would be required to put food on the table, pay for the kids education, have a nice life-style, own our own homes and so on.
The idea was to place the surplus above X in different psychic space to money we felt we needed.
The idea was to place the surplus above X in different psychic space to money we felt we needed.
This excess would be less likely to distort our thinking or relationships with friends and family.
And less likely to encourage the very human drift toward an indulged life, just because you can."
And less likely to encourage the very human drift toward an indulged life, just because you can."
Max: As I continue to compound my capital over the next few decades...
I want to remember this and use it as a compass to guide my decisions on how I use my wealth.
I want to remember this and use it as a compass to guide my decisions on how I use my wealth.
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