Life is about being effective,
simple,
repetitive.
Stocks are mainly qualitative and quantitative.
Qualitative is probability (holding central state-owned enterprises,
there is a high probability of relative safety and high interest protection.
Private enterprises, even if they are safe,
often have many conflicts of interest with minority shareholders).
Quantitative is odds (when the purchase price is lower than net assets,
the lower the odds, the greater the potential returns).
When a method is found to be effective,
it will be used repeatedly.
This is the law of survival for all things.
Discover what is effective,
and replicate it; discover what is ineffective,
and discard it.
The methods that can be continuously and simply replicated are the best — this is the essence of compound interest.
Therefore,
Bruce Lee said: I am not afraid of the person who knows ten thousand moves,
I am afraid of the person who practices one move ten thousand times.
Just like the story of the old oil seller,
who effortlessly poured oil through the small square hole in the ancient copper coin into the oil jar.
Question: How to possess such superb skills? Answer: Only through familiarity.
The things we do repeatedly will shape us.
Therefore,
excellence is not a behavior,
but a habit.
—— Will Durant
The species that survive
are not the strongest,
nor the smartest,
but the ones most adaptable to change.
—— Darwin
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