Maintaining even a small annual profit is advantageous in investing. Survival remains the most critical factor in business. People have sought the secret to Warren Buffett’s success, which is the power of compounding, but they overlook the real key: he has invested consistently for 75 years without pause. You can indeed succeed in your business endeavors through sheer survival; conversely, you cannot survive solely because of your success. Survival is only achievable if you have the strength to keep going, even with minimal returns. To do this, you must do what you love. Invest in stocks you like, and continue investing even if it is volatile. Next, you need to secure a “margin of safety.” Even a small margin ratio is crucial because a business can’t survive without margins. Frugal spending, flexible thinking, loose schedules—anything that helps during tough times—can all contribute to building a margin of safety. - Joseph’s “just my thoughts”
In the Bible, David was a shepherd when he ousted the beast with pebbles and a sling, but when he threw stones at the enemy with the same pebbles and sling, he became the king’s son-in-law. The ability and tools are the same, but his life changed completely when the objects and situations of using them changed. The way to escape the crisis depends on the abilities and the ability to grasp the object and situation to which it is applied rather than the replacement or improvement of the skills and tools. Of course, luck is also important. Because luck also creates a situation. - Joseph’s “just my thoughts”