Reading and Thinking Selecting Reading Material Read classic works in the fields of mathematics, science, and philosophy. Do not read bestsellers, and do not focus on the news. Avoid joining any so-called “book clubs,” and do not pursue social validation. Place truth above social validation. Writing and Thinking Writing a blog is also a way of thinking. It acts like a hook, capturing inspiration and guiding people toward deeper contemplation. ...
I even believe that all ports must be allocated through price. In a commodity economy, equivalent exchange is the foundation for ensuring smooth transactions. The Difference Between Working and Investing Earning money by investing, rather than earning money by exchanging time, is the biggest difference between working and investing. Average Investment Level: Seeking Relative Victory In the field of investment, achieving absolute victory is not easy, but achieving relative victory is more realistic. Investors who achieve relative victory can become profitable, while those who achieve absolute victory may become masters. However, mastery is not achieved overnight, nor can everyone become a master. Therefore, for ordinary investors, becoming a relative victor should be the primary goal. ...
Deeply ingrained beliefs are not something that can be awakened by mere words. Even abandoning medicine for literature cannot save the Chinese people The two most difficult things in this world are: first, putting other people’s money into your own pocket; second, implanting your own thoughts into others’ minds. The first thing affects people’s interests, while the second affects their soul.
Never stop learning At the end of the day, founding a star up primarily request you to do one thing: learning. don’t look for tricks the fact is there are no shortcuts in starting a start up . There’s no trick to get people to like you product. You just have to make a good product because that’s all your user care about.
Using new low-interest loans to replace implicit high-interest loans. This is a disguised debt restructuring—nothing new, merely a routine operation of economic deleveraging. The Four Methods of Deleveraging Debt Restructuring: This refers to changing the terms of existing debt through negotiation, such as extending the repayment period, lowering the interest rate, or partially forgiving the principal, in order to alleviate the debtor’s burden. For a nation or a large corporation, this may involve complex legal and financial procedures. ...
DON’T UNDERESTIMATE THE COST OF OWNERSHIP This is a significant pitfall you might fall into when purchasing a car or a home.
Pain Points Hugo is a very useful static site generator framework. Many people use it to write blogs and deploy them on GitHub Pages. However, this solution can only be used on a computer, meaning you have to open your computer every time you want to write an article. I strongly need a solution that allows me to record my thoughts at any moment—when my mind is racing, I can open my phone and immediately record it. Therefore, I need an APP that can be operated on a mobile phone. ...
1104 They never thought about paying off the debt. The issued debt keeps increasing, and since they haven’t settled it year after year, it’s impossible to repay. Although they wish for infinite longevity, in reality, it’s merely a continuous reaction to stimuli. 1105 Rushing to achieve results means you won’t be able to sustain it for long. The project is starting to take shape, and I think it looks pretty good. Tomorrow, we can draw the icons. 1109 The first version completed today. We are still missing one landing page. Next, we need to purchase a domain name and create a blog for the product itself. 1110 Completed folder management this morning. Fixed the issue where tags weren’t refreshing. Added the last modified time. We could consider setting the fetch ratio to be a little smaller. 1111 It currently supports images. Uses left and right swipe gestures for file management. We don’t know how to manage the article covers because each theme is different. 1114 Refining details, taking screenshots, preparing the landing page. ...
In authoritarian regimes, leaders often secure prolonged control through oppressive tactics that prevent opposition from organizing or gaining momentum. From a game theory perspective, this strategy can be understood as a “fear-based stability,” where the cost of opposition is high, and the risk of repression discourages dissenters from taking action. In such regimes, individuals face a prisoner's dilemma: although collective action could increase the likelihood of challenging the ruler successfully, the first to oppose often suffers severe consequences if others do not join. This creates a situation where everyone prefers to avoid the risk, maintaining a Nash equilibrium in which silence and compliance are rational choices. This mutual inaction leads to a stable yet coercive equilibrium where the authoritarian’s rule remains unchallenged. ...
October 10, 2024 [My first speculative attempt](/posts/investment/stock/First conscious speculative operation/) At that time, my analysis suggested that policy makers intended to temporarily stabilize the market by boosting large-cap stocks, and to enhance market confidence by releasing relevant news. Currently, the stock price of Industrial and Commercial Bank of China (ICBC) has reached 6.14, but I don’t want to buy it because I feel ICBC is not worth that much money, so I am still planning to buy China Yangtze Power. The main logic is that the current interest rate spread is too low, which might affect dividends. Meanwhile, power demand has always been strong, and with the popularization of electric vehicles, the long-term outlook is even better.
If you want the upside building wealth, you have to accept volatility and periodic declines that come with it. It’s the price of admission for long-term investment success. If you’re not willing to react with equanimity to a market price decline of 50% two or three times a century, you’re not fit to be a common shareholder, and you deserve the mediocre result you’re going to get. In other words, the market only offers two to three perfect buying opportunities per century, and you absolutely should not miss them. ...
After you stop working your 9 to 5, your money can keep working for you. 停下你的朝九晚五工作后，你的钱可以继续为你工作。 Conclusion: The Just Keep Buying Rules Highlight(yellow) - Page 281 · Location 4366 Saving is for the Poor, Investing is for the Rich Find where you are in your financial journey before deciding where to focus your time and energy. If your expected savings are greater than your expected investment income, focus on savings; otherwise focus on investing. If they are similar, focus on both. (Ch. 1) ...
Most Stock Markets Go Up Most of the Time Including during World Wars and COVID-19 Most stock markets go up most of the time. While it feels like we are always at the epicenter of a market crash, the fact is that major crashes are very rare. This is why Average-In has performed poorly for most of history. The Best Time to Start Was Yesterday The next best time is today. The best time to start was yesterday. The next best time is today. ...
Many poor people stay poor not because of their talent/motivation, but because they are in low-paying jobs that they must work to survive. 由于最初财富的差异，贫困人口无法接触到更好的工作机会，只能从事低生产力的工作。 人们之所以贫穷，不是因为他们固有的特质，而是因为缺乏机会。他们的环境，才是让他们贫穷的原因。
First, figure out how much you expect to comfortably save in the next year. Next, determine how much you expect your investments to grow in the next year. Finally, compare the two numbers. Which is higher, your expected savings or your expected investment growth? If your expected savings are higher, then you need to focus more on saving money and adding to your investments. However, if your expected investment growth is higher, then spend more time thinking about how to invest what you already have. If the numbers are close to each other, then you should spend time on both.
The principles of living are essentially the art of adapting to change; one cannot be rigidly fixed on a single perspective. Mistakes in the Last Judgment My first conscious speculative attempt, where I failed to adequately consider the factor of unfinished projects (or “rotten tails”). We may need to continuously correct our judgments, because the world is constantly changing. Avoiding Extreme Thinking Being fixed on one side means falling into extreme thinking—believing that a certain strategy or concept can apply forever, or holding an absolute view of certain things. This mindset ignores the complexity and diversity inherent in reality. Dealing with life and responding to change requires balance; one cannot be overly aggressive, nor overly conservative. In economic decision-making, being fixed on one side might manifest as over-relying on a specific policy tool (such as monetary easing or fiscal stimulus), while ignoring long-term side effects. Similarly, in personal investment, if one relentlessly pursues a certain investment model, they may miss other potential opportunities. Winning by Adapting to the Enemy’s Changes The world is full of uncertainty and variables, whether in politics, economics, or personal life. Facing these changes, rigidly adhering to a fixed strategy or concept leads to mistakes, or even missed opportunities. Adaptation means adjusting one’s behavior and strategy according to environmental changes, maintaining flexibility and adaptability. The concept of “winning by adapting to the enemy’s changes,” mentioned in Sun Tzu’s Art of War, also emphasizes the importance of responding to change. Whether facing a battlefield or various challenges in life, the ability to adapt to change often determines success or failure. Balance and Moderation The Way of the Mean (Zhong Yong) emphasizes finding balance between extremes. True wisdom lies in knowing when to persist and when to change. This applies to life, career, investment, and politics. Timely adjustment not only avoids the difficulties brought by rigidity, but also allows us to better seize new opportunities. “Adaptation” is not blindly following change, but rather adjusting strategies according to the situation while maintaining core principles. This flexibility allows us to not lose direction amidst change, but also to effectively cope with challenges. Open Mindset Responding to change also requires us to maintain an open mindset, always ready to accept new knowledge and new information. Often, success depends on whether we can timely realize the arrival of change and take corresponding action. Those who always adhere to old ideas and are unwilling to accept change are often eliminated in the changing tide. In the age of information explosion, maintaining openness and critical thinking is essential to avoid being misled and quickly adapting to new situations and challenges.
Introduction 介绍 Highlight(yellow) - Location 236 Many people who have a great deal of wealth do not even live in upscale neighborhoods. Highlight(yellow) - Location 250 Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. Highlight(yellow) - Location 259 Many people ask this question of themselves all the time. Often they are hard-working, well-educated, high-income people. Why, then, are so few affluent? ...
More than huge returns, the safety of wealth is paramount. Extreme success largely depends on luck. Investing and wealth management isn’t entirely based on luck. It might be a bit like playing cards—there’s a significant element of luck, but also a certain level of skill. Personal financial investment is largely related to psychology. Investment behavior is strongly related to a person’s past experiences, because past experiences influence one’s psychology. Chapter 1: No One Truly Loses Their Mind Over Money In the United States, the lowest-income families spend an average of $412 annually on lottery tickets, which is four times the amount spent by high-income families. 40% of Americans cannot pull out even $400 when they urgently need money. This means that those who spend $400 on lottery tickets are essentially those who cannot produce $400 when they need it most. They are betting the $400 that could provide them with security on a chance of winning that is only one in a million. ...
The entire shift from rice to mulberry was such that the cabinet was merely a figurehead; everything was decided solely by Emperor Jiajing. The decision was rushed (or hasty). The methods were intense (or aggressive). The effects were extreme. The outcome was incomplete (or a failure/poorly executed). Therefore, when we make decisions, we must take this into account. We cannot assume that the intentions of those above will necessarily be realized. Nothing is omnipotent; there are always difficulties. There is no omnipotent god, and the central bank is no exception.
In fact, a healthy relationship with money is most often just a by-product of living a happy, healthy life. Endless desire is one of the pitfalls of human nature, and one of the first things you need to cure if you want to get ahead more quickly. What will you do when you no longer have to work for money? to leave this world a little better than we found it. ...