The most important rule in investing is not to lose your initial capital. Making money comes later. If you lose 50% of your principal, the loss rate is 50%, but to recover that principal, you need a 100% return. This is because the baseline of your return—the principal—has already been halved. Many people tend to think that if they’ve lost 50%, they only need a 50% return to break even. However, this is a misunderstanding of the starting point. In investing, the baseline is always the original principal. The principal after a loss is no longer the same; it’s already in the past. - Joseph’s “just my thoughts”
Before the high level of civilization, human life was tribal. However human beings were needed for the large-scale labor force for industrialization, so people were gathering in the cities for a living. That was the detribalization. These days when we are developed by social media, people are used to selectively make a relationship with those who have similar philosophies and preferences. Rather, the new media makes the retribalization in different meanings. Therefore, now human relationships are becoming more important the interests and preferences. When choosing to make a relationship, people gather according to their preferences. Communication is narrower and more easily ostracized. - Joseph’s “just my thoughts”