Its again the time of the month to update AVI family net worth status. The timing for this update coincides with an auspicious day of the year, the day when majority of Indians celebrate Diwali, the festivities of light. Wishes from Avi Family to all the readers of this blog, Happy Diwali!
Like many Indian families, we have also been busy with Diwali festivities and guest visits. I therefore did not get the chance to compile updates on my net worth over this weekend.
Instead, for this week’s post I decided to rehash my old blog post on the list of my favorite investing (and life lesson) quotes. Hope you enjoy them as much as I have over the years!
All investing is value investing
— Charlie Munger
There is a wonderful, almost mystical, law of nature that says three of the things we want most—happiness, freedom, and peace of mind—are always attained when we give them to other.
— John Wooden
Experience is what you got when you didn’t get what you wanted.
— Howard Marks
In theory there is no difference between theory and practice but in practice there is.
— Yogi Berra
To be a disciplined investor you have to be willing to stand by and watch other people make money on things that you have passed on.
— Howard Marks
It is difficult to be kind than be clever.. Choices are hard, gifts are easy.. Kindness is a choice, cleverness is a gift..
— Jeff Bezos
The secret to doing good research is always to be a little underemployed. You waste years by not being able to waste hours.
–Amos Tversky
It’s only ideas gained from walking that has any worth.
— Nietzsche
The only function of economic forecasting is to make astrology look respectable.
— John Kenneth Galbraith
A precondition for reading good books is not reading bad ones: for life is short.
— Schopenhauer
With or without religion, good people can behave well and bad people can do evil; but for good people to do evil – that takes religion.
— Steven Weinberg
Capitalism civilizes greed in much the same way as marriage civilizes lust.
— Dinesh D’Souza
Risk is what is left over when you think you have thought of everything.
— Carl Richards
Humility is the human smarts to survive and succeed in the modern age of smart machines.
— Anonymous
Video/Book/Article/Audio for the Week
For this weeks interesting read/watch/listen… I want to highlight a short interview that Guy Spier did recently with a German interviewer, see here. In this interview Guy Spier talks about a few things that he learned from Mohnish Pabrai. In particular, towards the end he talks about an example of inversion in real life as it relates to personalities. Using the example of Charlie Munger, Guy talks about the off-putting personality trait of Givers, folks who tend to provide support to others with no strings attached. I think it is a gem of an insight!