Life only changes when we have great ideas and take action. If we work hard without great ideas, our days will likely feel meaningless. Conversely, if we only think about great ideas without taking action, nothing will actually change. Great ideas aren’t just big thoughts; often, they are small and trivial ones that are easier to implement. No matter how many doors there are, if we don’t open them, they’re just walls. - 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...