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Kindle Notes & Highlights
“First, for seventy-seven years now, I’ve tried to go to bed a little smarter than I woke up. Constant improvement is the only way to succeed. It makes what is difficult to achieve become inevitable. Success is a few simple disciplines, practiced daily. Failure is simply a few errors in judgment, repeated daily.”
“I like Warren Buffett’s thoughts on this: you should leave your children enough to where they can afford to do anything. But not so much that they can afford to do nothing.
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On a daily basis, the effects of our actions are imperceptible; cumulatively, though, their consequences are enormous. When our long-term competitive position improves as a result of these almost unnoticeable actions, we describe the phenomenon as “widening the moat.” -- Warren Buffett
‘You’re trying to paint the fourth wall!’
We all have wants and needs at different times. They vary with the condition you’re experiencing. If
‘People don’t want a half-inch drill bit. They want a half-inch hole in something.’”
“In reality, capital is a historic relic of previous efforts. It’s usually crafted for a specific purpose and becomes a sunk cost if it has no alternative use.
