A baseball batter cannot hit a home run every at-bat. You might make a lot of money once with luck, but that’s a fleeting way to earn. If you generate a lot of money without even preparing a bowl, you might end up unhappy. The reason for emphasizing the ‘compound effect’ in investing is because it’s one of the few sustainable methods mankind has experienced. However, compared to our greed, ‘compound interest’ seems like a small rate of return right now, so many people break the rules they need to follow and take risky investments, putting themselves in danger. We can’t hit a home run every day. Valuing small profits and working to protect them will bring us good fortune. Greed leads to destruction. - Joseph’s “just my thoughts”
Success always has two faces. One is achievement and the other is complacency. There's a term in business administration called the " Competence Trap". It refers to the belief that if people cling to and repeat past successes, they will continue to be successful in the future. Xerox, which invented the world's first personal computer; Chrysler, which missed the SUV market because of the success of the minivan; and Kodak, which invented the world's first digital camera but failed to aggressively market it for fear of losing its main business, film. Humility is not an etiquette, but a shared destiny essential to success. - Joseph’s “just my thoughts”