Action and behavior are distinct. Action is an immediate response to a situation’s demands, while behavior is a voluntary response driven by will and intention. So, which one is more important? Both are essential. There is a time to act and a time to behave. The best approach is for your behavior to follow what you started with action. Immediate action is necessary to achieve results, and behavior is needed to put your will into action with a specific purpose or goal. A person who acts easily is practical, while a person who prefers behavior is strategic. But if you don’t act, nothing happens. The world we live in gains meaning after its occurrence and its consequences. - 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...