Poison: Writer Jong-bong Kim , a full-time investor, said in his book “ Money Scenario ,” “All profits you get without knowing it are poison.” If you make money without knowing whether it’s from a business or a stock investment , you operate and invest with that unaware mindset. Acting without explicit knowledge is extremely risky. The more money you earn unknowingly, the faster a significant loss will come. Continuously doing your business without understanding why customers buy your products or why your stocks generate profit can lead to a serious crisis. The greater the influence, the larger the impact. Whatever you do, you need to understand the core and operate properly. Don’t let luck alone control your abilities. The odds of winning the lottery don’t happen every day. Don’t waste time on gambling. The difference between gambling and business, and between investing and gambling, is just a single page of paper. - Joseph’s “just my thoughts”
Starbucks Korea sells a 355ml tall size cup of Americano at KRW 4,500. It contains 3.5% solid matter to at least manifest tastes and flavors. The rest is just WATER. We should simultaneously drink 96.5% of the water to get just a few 3.5% together. The average production cost of 1ml of tap water in Seoul is KRW 0.00051. That's the same as paying about KRW 4,000 for a cup of tap water of about 350ml. We would think of how much we make money by selling coffee, but it's our misunderstanding. As an excuse for a few solid matters of "coffee", they're selling tap water at the unbelievable price of over KRW 4,000. They're making money with the cheapest solvent 'WATER', not 'COFFEE'. But almost all businessmen are trying to sell the solid matters of 3.5% at a high price. The reason, businessmen cannot make money is they make the wrong selection which cannot make money since the beginning. The making structure is first, and the effort is second. - Josep...