No matter how hard you work or how busy you become, it’s essential to maintain initiative in your life. When I lose control of my life to others, I feel as though I’m living a life of servitude. The most important way to preserve initiative in life is to consistently take action, even if it’s small, as part of my daily routine. Theologian Karl Paul Reinhold Niebuhr prayed: “Let me do my best in what I have to do, give me the courage to give up what I cannot do, and give me the wisdom to judge the two apart.” - Joseph’s “just my thoughts”
James Simons founded Renaissance Technologies, the leading American hedge fund investor. He was, in fact, a mathematician. The Medallion Fund he ran had also seen a 200-fold increase in Berkshire Hathaway stock yield, matching Warren Buffett's performance. It was an incredible record, plain and simple. This conclusion was a subtraction of 5% of the management fee from the fund as a GP with 44% of the compensation fee. He invested in a cutting-edge "quant system" that trades stocks using sophisticated computer-aided algorithms. To eliminate emotional interference, the finance industry excluded employees. However, they recruited doctors like him from the science and technology fields. Even having extensive financial and investment knowledge, investment is the conclusion of action. Sound judgment beyond feelings is crucial for investment, but feelings are a variable. It's challenging to become wealthy if you don't control your emotions. In other words, emotions are a...