Occupy and Move: These concepts are the key to wealth. Here, ‘occupy’ means owning goods, and ‘move’ refers to transferring ownership through exchange. Wealth is built by accumulating possessions. For accumulation to occur, a good must first be owned by someone else and then transferred. The transfer of ownership is what I call the movement of goods. To transfer, a payment is made to the current owner, usually in currency. Currency simplifies exchanges, as it is easier to move and issue than physical goods. Today, currency moves electronically, accelerating transactions. Had goods always been exchanged directly for other goods, exchanges and wealth accumulation would progress more slowly and inefficiently. The economic system now manages prices by adjusting the money supply, controlling the value of goods relative to currency, since money is easier to manage than goods. Business and investment outcomes depend on whether wealth is stored in money or in goods. If you emphasize goods, pat...
Experience should not serve as a constraint that confines individuals to their past; instead, it should act as a foundation for future endeavors. While successful experiences can instill confidence, they may simultaneously restrict one’s thoughts and actions, leading to potential lapses in judgment. It is noteworthy that my achievements may not have solely stemmed from my abilities but could have been attributed to fortuitous circumstances, often arising from the missteps of others. A valuable experience should not foster arrogance or dismiss the fallibility of unwavering self-assurance and disregard for alternative perspectives. To mitigate the risk of failure, one must cultivate humility. - Joseph’s “just my thoughts”