I was once invited to speak at McKinsey. I started by asking, “how many of you have ever started or run your own business?” No one put their hands up. I then announced the name of my presention, “Anything is easy when you don’t have to do it”.
I’ve not been invited back.
A few man rules for today:
1. Wake up
2. Put your feet on the floor
3. Pick up the newspaper
4. Read the obituaries
5. Try to find your name
6. Stop being a bitch
Fast, lift, sprint, stretch, and meditate.
Build, sell, write, create, invest, and own.
Read, reflect, love, seek truth, and ignore society.
Make these habits. Say no to everything else.
Avoid debt, jail, addiction, disgrace, shortcuts, and media.
Relax. Victory is assured.
When crashing markets first recover sellers want to sell at last week’s highs and buyers want to buy at last week’s lows.
Thusly the gap between the bid and the ask becomes very large. DJIA has settled in at 20,500 with about a 7% bid/ask.
I am pretty much indifferent on stocks between 19,000 and 22,000 on the DJIA, because that gap is really just the bid/ask spread. Bond traders understand this from experience.
The deeper your feel, the more emotional control you need.
A special type of self-destruction occurs when you combine high empathy and low self-discipline.