At Berkshire Hathaway’s 2013 shareholders’ meeting, Warren Buffett said, “I’ve owned 400 to 500 companies’ stocks in my lifetime, but only about 10 of them made the most money.” His lifelong friend and investment partner, Charlie Munger, added, “With the exception of some of Berkshire Hathaway’s best investment practices, long-term performance is near-average.” Many people know Warren Buffett’s return on investment better than his mistakes or failures. It’s because of those 10 companies that he succeeded in investing. If there is a positive, there must be a negative. It’s better to prepare a realistic alternative in case you fail than to try to avoid failing. Humans are probabilistic beings. - Joseph’s “just my thoughts”
I believe that humans’ key activities are discovery and imagination. Humans grow through thought, which involves gathering information from the exploration of nature and society and organizing it meaningfully. Progress occurs when we connect with and apply this information beyond its immediate relevance, and this process of connection is termed imagination. Discovery serves as the foundational material for imagination, while imagination generates new outcomes through application, leading to development. - Joseph’s “just my thoughts”