LIMITLESS INSIGHTS
Within the world of value investing, there is a term that was made famous by Benjamin Graham and Warren Buffet called the "Margin of Safety." It is the difference between the intrinsic value of a stock and its market price. Another definition: In break-even analysis, from the discipline of accounting, the margin of safety is how much output or sales level can fall before a business reaches its break-even point. At its core, this term is a practical way of evaluating risk vs. reward.
“The thoughtless, the ignorant, and indolent, seeing only the apparent effects of things and not the things themselves, talk of law, of fortune, and chance. Seeing a man grow rich, they say, "How lucky is!" Observing another become intellectual they exclaim, "How highly favored he is!" And noting the saintly character and wide influence of another, they remark, "How chance aids him at every turn!" They don't see the trials and failures and the struggles which these men have voluntarily encountered in order to gain their experience; have no knowledge of the sacrifices they have made, of the undaunted efforts they have put forth, of the faith they have exercised, that they might overcome the apparently insurmountable, and realize the vision of their heart. They do not know the darkness and the heart aches; they only see the light and the Joy, and they call it “luck”; do not see the longing arduous journey, but only behold the pleasant goal, and call it "good fortune"; do not understand the process, but only perceive the result, and call it “chance”.”
“ Fear tends to manifest itself much more quickly than greed, so volatile markets tend to be on the downside. In up markets, volatility tends to gradually decline.” — Philip Roth
While day by day the overzealous student stores up facts for future use, he who has learned to trust nature finds need for ever fewer external directions. He will discard formula after formula, until he reaches the conclusion: Let nature take its course. - Larry Bird
Poverty and lack are not real but are illusions, which through wisdom, creativity and innovation can be transformed into wealth and plenty.
"Reality is merely an illusion, albeit a very persistent one." - Albert Einstein
"The way to gain a good reputation is to endeavor to be what you desire to appear." Socrates
“Acknowledge the complexity of the world and resist the impression that you easily understand it. People are too quick to accept conventional wisdom, because it sounds basically true and it tends to be reinforced by both their peers and opinion leaders, many of whom have never looked at whether the facts support the received wisdom. It's a basic fact of life that many things "everybody knows" turn out to be wrong.” ― JIM ROGERS
Beyond this place of wrath and tears looms but the horror of the shade, and yet the menace of the years finds, and shall find, me unafraid. It matters not how strait the gate, how charged with punishments the scroll. I am the master of my fate: I am the captain of my soul." William Ernest Henley
“Men are anxious to improve their circumstances, but are unwilling to improve themselves; they therefore remain bound. The man who does not shrink from self-crucifixion can never fail to accomplish the object upon which his heart is set. This is true of earthly as of heavenly things." JAMES ALLEN
A lack of money is a result, it's not the cause. No matter how small the amount is, realizing you have something to work with is the beginning of thinking soberly about your finances. Very few people are born with all the money they would ever need. However, throughout our lives many of us will have a fair amount of money that will pass through our hands, but it's what you do with it that is important.
