As Voltaire said, “History never repeats itself; man always does.” Many interpret this saying differently, but the core message that human behavior is hard to change is clear. Since humans cannot predict the future, they can only forecast it based on past experiences. That’s the best way to anticipate what’s ahead. The current economic and financial landscape is driven by irrational human behavior that remains constant. It is not based on <hard skills> like investment techniques or mathematical formulas but on <soft skills> such as emotions, psychological reactions, and attitudes. Understanding humans helps us understand the world. Therefore, history and the humanities play a significant role in wealth building. However, it takes just a few soft skills to accumulate wealth, and ultimately, human actions shape a person’s destiny. In wealth building, soft skills and behavior matter more than grand theories or knowledge. - Joseph’s “just my thoughts”
Luxury goods are valuable not only because they are well-made but also because they are scarce. The proof lies in the abundance of counterfeit luxury goods. Controlling production and supply is one of the things luxury goods brands excel at. Initially, quality and reputation create luxury goods; however, the fact that the value of these goods does not diminish but continues to rise is due to the maintenance of scarcity. While customers determine the fate of the product, producers and suppliers also influence the fate of the customer. They achieve this through their offerings. - Joseph’s “just my thoughts”