"Money's greatest intrinsic value-and this can't be overstated-is its ability to give you control over your time."
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Key Lesson from "Psychology of money" written by Morgan Housel
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To value investors, an asset isn’t an ephemeral concept you invest in because you think it’s attractive. It’s a tangible object that should have an intrinsic value
capable of being ascertained, and if it can be bought below its
‘Margin of safety’ is the difference between a stock price and its intrinsic worth, or value.
So if a stock is trading at $70 in the market, and you calculate the company’s intrinsic value as $100, you have a margin of safety of $30 (100 minus 70). In other terms, the sto...
You can't do it all. Only stick to those commitments in your life that really give you joy and value.
For the rest, you need to learn to say no, and value your time.
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