@BandiShreyas Bhai, all the best. Recently i have watched your live trading videos and making the profit. Your view about the market and trade execution was amazing.
Warren Buffett once bought a gas station. He lost every dollar.
He was 21. He put about $2,000 into a Sinclair station in Omaha with a friend. That was roughly 20% of everything he owned.
On paper it looked simple. Cars need fuel. People pay cash. It seemed like easy money.
Across the street sat a Texaco. The owner was well known and well liked. Drivers kept going there. Buffett’s station lost, month after month.
He even worked weekends at the counter and washed windshields. It did not matter. People already trusted the other place. Buffett’s station could not win them over.
He lost the full $2,000. That money never got the chance to grow.
The lesson was blunt. A business with no edge is a job, not an investment. If the rival is loved and you are not, price cuts and hard work will not save you.
Buffett stopped trying to beat a shop that was already stronger. He started buying businesses that customers already loved.
An old but interesting thread
10 Clever Personal Finance Rules that will help u save more.
1) Rule of 72
2) 100- Age Rule
3) 50-30-20 Rule
4) 1st Week Rule
5) 6X Emergency Fund
6) 20X Term insurance
7) 40% EMI Rule
8) 2X Savings Rule
9) 3*3*3 Plan
10) 25X Retirement Rule.
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