Four thoughts from the readings (including books) in 2015 for 2016.
Sharing it here.
Think Long Term
If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people. But if you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to do that. Just by lengthening the time horizon, you can engage in endeavors that you could never otherwise pursue.
-Amazon’s Jeff Bezos said this in an interview in 2011
Be a Learning Machine
As far as knowledge is concerned, Charlie Munger says – “The more basic knowledge you have, the less new knowledge you have to get.”
It’s not something you do just to advance in life. As a corollary to that proposition which is very important, it means that you are hooked for lifetime learning. And without lifetime learning, you people are not going to do very well. You are not going to get very far in life based on what you already know. You’re going to advance in life by what you learn after you leave here. [Source: Munger; USC 2007]
Life is long enough
It is not that we have a short time to live, but that we waste a lot of it. Life is long enough, and a sufficiently generous amount has been given to us for the highest achievements if it were all well invested. But when it is wasted in heedless luxury and spent on no good activity, we are forced at last by death’s final constraint to realize that it has passed away before we knew it was passing. So it is: we are not given a short life but we make it short, and we are not ill-supplied but wasteful of it… Life is long if you know how to use it.
Be thankful for what you got
I am sometimes taken aback by how people can have a miserable day or get angry because they feel cheated by a bad meal, cold coffee, a social rebuff or a rude reception. We are quick to forget that just being alive is an extraordinary piece of good luck, a remote event, a chance of occurrence of monstrous proportions. Imagine a speck of dust next to a planet a billion times the size of earth. The speck of dust represents the odds in favor of your being born; the huge planet would be the odds against it. So stop sweating the small stuff. Don’t be like the ingrate who got a castle as a present and worried about the mildew in the bathroom. Stop looking at the gift horse in the mouth – remember you are a Black Swan.
[Source: Taleb; The Black Swan]