The most important rule in investing is not to lose your initial capital. Making money comes later. If you lose 50% of your principal, the loss rate is 50%, but to recover that principal, you need a 100% return. This is because the baseline of your return—the principal—has already been halved. Many people tend to think that if they’ve lost 50%, they only need a 50% return to break even. However, this is a misunderstanding of the starting point. In investing, the baseline is always the original principal. The principal after a loss is no longer the same; it’s already in the past. - Joseph’s “just my thoughts”
The term “pseudo-” means exquisitely similar, but the core differs. This small difference in the core has enormous consequences. When you see a pseudo-doctor, you lose your health or life. When you meet pseudo-religious leaders, you waste your life and ruin your future—this small difference in core changes in fate. So, when consulting, I emphasize the “essence of business” and “identity”. Entrepreneurs don't know the tragedy that occurred by ignoring the small core in peace due to similar reasons. - Joseph’s “just my thoughts”