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”
Humans establish a tacit relationship distance with others without even knowing it. Each person’s relationship distance is different, and it is not permitted to change the distance unless there is a specific reason or motive. Relationship distance is fateful. Sometimes, an event creates an opportunity for others to confirm the unilateral setting of the relationship distance. If the other person agrees to a one-sided distance setting, the relationship continues. All of this is often more informal and tacit. It is nearly impossible for others to change this distance. Therefore, we create a new relationship. - Joseph’s “just my thoughts”