Yardsticks seldom are discarded while yielding favorable readings. But when results deteriorate, most managers favor disposition of the yardstick rather than disposition of the manager.

...dividends received from GEICO of $3.5 million are the only item included in our “accounting”x earnings. An additional $23 million that represents our share of GEICO’s undistributed operating earnings is totally excluded from our reported operating earnings. If GEICO had earned less money ... but had paid additional dividends, our reported earnings would have been larger ... Conversely, if GEICO had earned an additional $100 million - and retained it all - our reported earnings would have been unchanged. Clearly “accounting” earnings can seriously misrepresent economic reality.

We prefer a concept of “economic” earnings that includes all undistributed earnings, regardless of ownership percentage. In our view, the value to all owners of the retained earnings of a business enterprise is determined by the effectiveness with which those earnings are used - and not by the size of one’s ownership percentage.

...investor may select from almost the entire array of major American corporations, including many far superior to virtually any of the businesses that could be bought in their entirety in a negotiated deal. And fractional-interest purchases can be made in an auction market where prices are set by participants with behavior patterns that sometimes resemble those of an army of manic-depressive lemmings.

As we look at the major acquisitions that others made during 1982, our reaction is not envy, but relief that we were non participants. For in many of these acquisitions, managerial intellect wilted in competition with managerial adrenaline. The thrill of the chase blinded the pursuers to the consequences of the catch. Pascal’s observation seems apt: “It has struck me that all men’s misfortunes spring from the single cause that they are unable to stay quietly in one room.”

The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.

... a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favorable business developments.

Even if our partially-owned businesses continue to perform well in an economic sense, there will be years when they perform poorly in the market. At such times our net worth could shrink significantly. We will not be distressed by such a shrinkage; if the businesses continue to look attractive and we have cash available, we simply will add to our holdings at even more favorable prices.

At Berkshire, or any company whose policies we determine, we will issue shares only if our owners receive in business value as much as we give. We will not equate activity with progress or corporate size with owner-wealth.

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Cryptocurrency

Discover the world of business and economics.

economics

Economics

moneyandinvestments

Money & Investments

Chairman's Letter - 1982

KISS (Keep It Simple, Stupid!)

This information just based on personal ideas. You can access the main source to get the entirety of the information.

<ul><li class="ql-align-justify">Learning is not the same as talking/lecturing. The most valuable learning comes from experience.</li><li class="ql-align-justify">Change yourself instead of changing others.</li><li class="ql-align-justify">Money is just an illusion (a trap).</li><li class="ql-align-justify">Humans have two options within themselves: a weak, poor, and purchasable soul, or a strong, determined, and unpurchasable soul.</li></ul>	 	The soul refers to a person’s emotions and reactions. Fear and greed trigger emotional reactions that take over the mind. The mind should control emotions and reactions; simply observe your emotions, don’t react.

The Rich Don't Work For Money

<ul><li class="ql-align-justify">Learning basic accounting is important.</li><li class="ql-align-justify">Increasing income rather than expenses is a basic understanding of Assets & Liabilities.</li><li class="ql-align-justify">KISS (Keep It Simple, Stupid).</li><li class="ql-align-justify">Aware of your own cash flow. Your cash flow indicate your social strata.</li><li class="ql-align-justify">You should know why there is a saying that, "The rich get richer, the poor get poorer.</li><li class="ql-align-justify">"Rat Race." The higher the salary, the higher the taxes. DON'T GET CAUGHT IN IT.</li></ul>

Financial Literacy?

“The rich focus on their asset columns, everyone else focuses on their income.”<ul><li class="ql-align-justify">Build a solid asset base; reduce expenses and liabilities.</li><li class="ql-align-justify">REAL ASSETS:</li></ul><ol><li class="ql-align-justify">Businesses that do not require personal presence.</li><li class="ql-align-justify">Stocks.</li><li class="ql-align-justify">Bonds.</li><li class="ql-align-justify">Income-generating real estate.</li><li class="ql-align-justify">Notes/Money markets.</li><li class="ql-align-justify">Royalties from intellectual properties such as music, scripts, and patents.</li><li class="ql-align-justify">Anything that has value, generates income, appreciates in value, and has a ready market.</li></ol>

Mind Your Own Business

<ul><li class="ql-align-justify">Understand how corporations work.</li><li class="ql-align-justify">Make money work for you.</li><li class="ql-align-justify">Pay yourself first.</li></ul>

The History of Taxes & Corporations

<ul><li class="ql-align-justify">We all have potential, but doubts hold us back.</li><li class="ql-align-justify">It’s not the smart ones who excel, but the bold ones.</li><li class="ql-align-justify">In the real world, what’s needed is bravery, guts, intelligence, skills, persistence, cunning, and dexterity.</li><li class="ql-align-justify">Many people only know how to: work hard, save, and borrow.</li><li class="ql-align-justify">Our strongest asset is our mind and time.</li><li class="ql-align-justify">Invest rather than save.</li><li class="ql-align-justify">Humans are designed to learn and we learn from mistakes.</li><li class="ql-align-justify">choice, so learn to manage risk rather than avoid it.</li></ul>

The Rich Invent Money

<ul><li class="ql-align-justify">The importance of financial intelligence.</li><li class="ql-align-justify">You want to know a little about many things.</li><li class="ql-align-justify">Learn management & leadership.</li><li class="ql-align-justify">Start doing it, not just thinking it.</li><li class="ql-align-justify">Learn business systems (Sales & Marketing).</li><li class="ql-align-justify">Being a specialist might be bad.</li><li>Synergize professional specialization, uniting smart people to work as a team.</li><li class="ql-align-justify">Give & Receive. CHARITY.</li><li class="ql-align-justify">Key management skills needed:</li></ul><ol><li class="ql-align-justify">Cash flow management.</li><li class="ql-align-justify">System management.</li><li class="ql-align-justify">People management.</li></ol>

Work to Learn; Don’t Work for Money

<ul><li class="ql-align-justify">Don’t be afraid, take risks; most people play too safe.</li><li class="ql-align-justify">WIN BIG – LOSE SPECTACULARLY. Celebrate victories lavishly, welcome losses grandly.</li><li class="ql-align-justify">Don’t consider your failures as the end of your efforts.</li><li class="ql-align-justify">We often play the “what if” game. If doubt and caution still cloud your mind, you are no more than a coward. Don’t let yourself be paralyzed by worries and doubts.</li><li class="ql-align-justify">Overcome laziness with GREED.</li><li class="ql-align-justify">Pay yourself first, stay broke, and remain under pressure to work harder and open your mind to ways to increase assets.</li><li>Five things that hinder the asset column:</li></ul>Fear. Cynicism. Laziness. Bad habits. Arrogance.

Overcoming Obstacles

<ul><li class="ql-align-justify">Ten steps to awaken financial genius:</li></ul><ol><li class="ql-align-justify">Find a reason stronger than reality: The power of spirit</li><li class="ql-align-justify">Make daily choices: The power of choice.</li><li class="ql-align-justify">Choose friends carefully: The power of association.</li><li class="ql-align-justify">Master a formula, then learn a new one: The power of fast learning.</li><li class="ql-align-justify">Pay yourself first: The power of self-discipline.</li><li class="ql-align-justify">Pay your brokers well: The power of good advice.</li><li class="ql-align-justify">Be an Indian giver: The power of getting something for free.</li><li class="ql-align-justify">Use assets to buy luxuries: The power of focus.</li><li class="ql-align-justify">The need for heroes: The power of myths.</li><li class="ql-align-justify">Teach and you shall receive: The power of giving.</li></ol>

Getting Started

<ul><li class="ql-align-justify">Stop doing what you’re doing (Evaluate).</li><li class="ql-align-justify">Look for new ideas, create your formula.</li><li class="ql-align-justify">Find someone who has already done what you</li></ul>

Still Want More?

Key points each chapter about money based on Rich Dad, Poor Dad 

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

personaldevelopment

Personal Development

motivationandinspiration

Motivation & Inspiration

business

Business

books

Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

Robert T. Kiyosaki

Rich Dad, Poor Dad

Money has the power to buy you things. But a much bigger power of money is in generating more money for you. Those who can manifest the latter, are never short of it.

We were not created to work hard all the time just to fulfill our basic needs.We were blessed with all the essential resources that are required to live contentedly and comfortably.

The demands of life and society have blindsided us to our capabilities and the resources accessible to us. We have become stuck in the routine of working, eating, sleeping, and repeating the same cycle again and again.

Society Made Life Complicated

DON'T CHASE ; ATTRACT !

Many of us spend a significant amount of time chasing money, investing all our energy into working hard and appearing successful.

Drop The Facade & Release Social Standards!

However, despite all of this effort, we still feel unhappy. We find ourselves trapped in a programmed lifestyle that forces us to constantly hustle and bustle, causing us to miss out on the important things in life.

It's Easier Than You Think

<ul><li>Amazon Kindle Direct publishing — make money off of your published ebooks</li><li>Stocks . Please don't just hop in. Do your research first.</li><li>Money from hobbies and crafts </li><li>Real estate investing </li><li>Writing blogs or adding content to platforms that pay per-view. Content creation is big right now. </li><li>YouTube videos. Let those views make you money.</li><li>Create an app. It's easier than you think.</li><li>Know a lot about something? Create a course.</li></ul>The possibilities are endless. Take your time and find what works for you.

The greater the passive income you can build, the freer you will become.

But a much bigger power of money is in generating more money for you. . “Work Smarter, not Harder —  Attracting a Passive Income” is published by The Beautiful Mystic in New Earth Consciousness.

education

Learning & Education

entrepreneurship

Entrepreneurship

Work Smarter, not Harder —  Attracting a Passive Income

In the long run, managements stressing accounting appearance over economic substance usually achieve little of either.

We have made plenty of such mistakes - both in the purchase of non-controlling and controlling interests in businesses ..., however, we generally have been able to correct such mistakes far more quickly in the case of non-controlled businesses (marketable securities) than in the case of controlled subsidiaries. Lack of control, in effect, often has turned out to be an economic plus.

Chairman's Letter - 1981

The model consists of two very important things, both of which are never going to die.<ul><li class="ql-align-justify">Social Media — Content Creation</li><li class="ql-align-justify">eCommerce — Dropshipping</li></ul>The demand for more relatable content will never die. The demand for relatable products will never die.Thanks to the internet, both of the businesses can now be run while sitting on the couch

The Business Model

The only common thing in every guy making $10k per month is that they post content online.<ul><li>Pick any niche you love & binge watch it</li><li>Take out clips from the videos that you think are good</li><li>Edit those clips with subtitles and flashy animations and sound effects</li><li>Put those clips on Instagram, TikTok & YouTube</li></ul>The worst case scenario is that you might not earn money in the next 6 months but you’ll have an audience to sell to & you’ll improve at what you love.

Build a Brand

Your niche doesn’t have to be the most famous niche. The famous niche never works. The niche you love works all the time.<ul><li class="ql-align-justify">Open the YouTube App</li><li class="ql-align-justify">See your search & watch history</li><li class="ql-align-justify">The thing you watched a lot about is the thing you are interested in</li><li class="ql-align-justify">Use your already available knowledge of that area of interest and put content online. </li></ul>You could be interested in books, learning physics & maths or medicine & law. Whatever it is, just post content online related to that and build your personal brand.

Pick a niche

If you post consistently for 3–4 months, you’ll have gained a decent sized audience to monetize.<ul><li class="ql-align-justify">Run ads on your profiles</li><li class="ql-align-justify">Do paid promotion for products or people related to your niche</li><li class="ql-align-justify">Try affiliate marketing</li></ul>

Making Money with Brand

Whatever you have built your brand around, you can now start selling products in that niche.If you are into self-help niche, then you can open a dropshipping store for books. Just make sure it actually solves a problem.Once you setup your store, go ahead and start promoting your products to an already existing audience that is loyal to you and trusts you, so they are more likely to buy from you rather than someone who paid for the ads for their bookstore.

Dropshipping

Post 2–3 times a week and use the best strategies. Do this for 6 months and you’ll have a business that might be enough for you to quit your full time job.Pray to Allah for success, do dhikr. If you succeed then well and good, and if you don’t you’ll improve. There’s no way you don’t succeed if you work consistently📚If this article helped you, then I’m sure <a href="https://binsletter.beehiiv.com/subscribe">my free weekly newsletter</a> will help you a lot in growing and gaining clarity every week to stay strong💪

Be consistent

Your guide to earning $10k in the next 6 months

How to make $10,000 in the next 6 months

Sui 😂 The laughter emoji is there because... I almost decided not to talk about this blockchain again. It's quite complex. Sui is a permissionless layer 1 blockchain powered by the Move programming language. A little story lol

Me And DYORing

Maybe you've not heard of Morgan Beller...As at 2017, she started working on Libra. Libra was supposed to be a permissioned blockchain powering the $LIBRA supposedly to be a stablecoin.Well, apparently, Meta engaged on a mission impossible because that dream was never ever birthed. I don't know if I should feel bad...buh Zucks tried his best.Libra was announced around Dec 2019. It faced oppositions, so tsunamic that our esteemed Zuckerberg couldn't hold on to it.

... Meta's Dreams 💤

Libra was supposed to be a blockchain that will power a stablecoin native to Alphabet (Meta's ) incorporations -all the holdings under Meta. So, we're talking about something that will be like Ton blockchain of Telegram. Libra would have been across Facebook, Whatsapp, Messenger, Instagram....you name it.

...Libra

Mark's vision was : to make financial payments and transactions as easy as sending a message. Well, Libra was later named Diem on Dec., 2020. However, Diem shut down Jan. 2022. Quite tragic but wait for it....

Mark Zuckerberg's dream

Boom 💥💥💥 out of the ashes of eternal incarceration arose the fantastic 5. Evan Cheng, CEO Chief Executive Officer Adeniyi Abiodun, CPO Chief Product Officer Sam Blackshear, CTO Chief Technology Officer George Danezis, CS Chief Scientist Kostas Chalkais, CC Chief Cryptographer

F@ntastic 5

This five had been in meta since the inception of the Libra project working tirelessly... Long story cut short...they left Meta and birthed Sui. 😀

...Story Ends, Technicals Begin...

Sui's native token is $SUI.It's a utility token -it is used to pay the gas fees.It's also used for governance in the ecosystem.$SUI is also used to incentivize engagements in the Blockchain.

Let's get back to the technicalities...

Of course, if you can recall, last week Friday we treated Arbitrum (an L2), SUI is L1. Use this analogy, Arbitrum is a L2 built on a L1, Ethereum. So Ethereum is the baseblockchain. It's not built on any other blockchain, that's why it's layer 1. The same way, Sui is layer 1. It was not built on any blockchain.

Layer

Their consensus mechanism is the dPOS. Delegated Proof of Stake. Basically, it functions like POS in that validators (NB not miners this time, miners operate in POW) stake their tokens in order to validate and approve transactions with the accompanied addition of blocks to the Blockchain. However, this time ie in dPOS, validators need to be delegated.

Consensus

This is how it works... Validators are chosen in each epoch. An epoch is 24hrs in the Sui ecosystem. They're chosen by users who delegate their staked coins (in this case $SUI). First, users stake their $SUI, and secondly they delegate it to a particular validator. Every epoch -24hrs- (a) user(s) can delegate entirely different validators or same validator(s)

dPOS

From my POV and myDYOR... Sui is geared at ensuring that web3 is largely scaled and massively adopted. They have several mechanisms put in place to achieve this purpose. Talk about <ul><li>Byzantine fault proof systems. bla bla bla 😂😂</li><li>Directed-acyclic-graph-mempools you don't want me to go into it...it's maths and all</li><li>narwhals and bullshark</li><li> sponsored gas fees enabling gasless transactions </li><li>object-centric...and horizontal transactions processing mechanisms...</li></ul> It's a whole lot

Why Sui?

For me, Bitcoin is the King, Ethereum is the Queen, Core is The Prince, I don't know which is the Princess. Libra beget Aptos and Sui.

technologyandthefuture

Technology & The Future

product

Product & Design

Success is 99% failure. Success represents the 1% of your work which results from the 99% that is called failure.

productivity

Productivity

Honda

In the ever-changing landscape of both "Fallout" and the market, the ability to adapt to new conditions, like resource scarcity, determines survival and success. Businesses must pivot strategies when the market shifts to remain competitive.

Adaptability is Key

Success in business is not about predicting the future, but about being able to quickly adapt to it. The market will always be a moving target, and the ability to pivot and evolve is what keeps you ahead.

Just as players craft new items or solutions from scarce resources, businesses that innovate create value and carve out niches in the market, often leading to significant competitive advantages.

Innovation Drives Progress

"Innovation is the central issue in economic prosperity. It's not just about new ideas, but about the practical application of those ideas to improve our lives. Without innovation, progress stalls."

The value of items in "Fallout" fluctuates based on scarcity and necessity, mirroring real-world economics. Understanding and anticipating market demand can lead to profitable opportunities.

Supply and Demand Rule

"The law of supply and demand is more than a simple economic principle; it is the heartbeat of the market, dictating the rhythm of production, pricing, and availability. Mastering it is akin to understanding the language of business."

Managing limited resources wisely is crucial in "Fallout" and business. Allocating resources effectively can mean the difference between thriving and failing.

Efficient Resource Management

"Efficient resource management is the cornerstone of business success. It's about doing more with less, ensuring every asset is leveraged to its fullest potential for maximum impact."

Aligning with the right factions or groups in the game can provide benefits and support. Similarly, strategic business partnerships can open up new markets and opportunities.

Strategic Partnerships

"Strategic partnerships are the bridges between what is and what can be. They are a testament to the power of collaboration, multiplying the strengths of each partner to achieve shared success beyond individual capabilities."

Choices in "Fallout" often come with moral implications. In business, ethical practices can build long-term trust and loyalty among consumers, while unethical practices can lead to downfall.

Ethical Considerations Matter

"Ethics in business is not just a moral compass, but a competitive advantage. It builds trust, enhances brand reputation, and sustains long-term relationships with customers and stakeholders."

Venturing into unknown territories in "Fallout" can yield high rewards but also high risks. In business, taking calculated risks is often necessary for growth and innovation.

Risk and Reward

"In the world of business, the balance between risk and reward is delicate and crucial. Taking calculated risks is the fuel for growth and innovation, a leap into the unknown with the promise of great rewards."

These lessons from "Fallout" illustrate the importance of adaptability, innovation, understanding market dynamics, efficient resource management, strategic alliances, ethical decision-making, and risk management in navigating the complexities of capitalism.

The Conclusion

"Fallout" offers several insightful takeaways on capitalism through its post-apocalyptic setting, which can be applied to real-world economic.

strategy

Strategy

Fallout : The Post-Apocalypse Capitalism Manifesto

The poor and the middle class work for money. The rich have money work for them.

Understand that assets put money in your pocket, while liabilities take money out. Invest in assets like stocks, real estate, or businesses that generate income, rather than liabilities like cars or consumer goods that depreciate in value.

Differentiate between assets and liabilities

Look for investments that provide ongoing cash flow, such as rental properties, dividend-paying stocks, or royalties from intellectual property. This way, your money can work for you even when you’re not actively working.

Invest in assets that generate passive income

Continuously educate yourself about personal finance, investing, and entrepreneurship. Read books, attend seminars, and seek out mentors who can provide valuable insights and guidance.

Understand the power of financial education

"An intelligent person hires people who are more intelligent than he is"

Don’t be afraid to take risks, but make sure they’re informed and calculated. If you encounter setbacks or failures, treat them as learning experiences and use them to grow and improve your financial knowledge and decision-making skills.

Take calculated risks and learn from failures

Develop a deep understanding of financial concepts such as compound interest, tax strategies, and asset allocation. The more you know about how money works, the better equipped you’ll be to make smart financial decisions.

Focus on increasing your financial intelligence

Stay curious and open-minded, and always be on the lookout for new opportunities to expand your wealth-building knowledge and skills.

Embrace the mindset of continuous learning and growth

Look for ways to create value and generate income outside of traditional employment. This could involve starting a side business, freelancing, or investing in ventures that have the potential for high returns.

Start thinking like an entrepreneur, not just an employee

Keep track of your income and expenses, and strive to maintain a positive cash flow by maximizing income and minimizing expenses. This will help you build wealth over time and weather financial downturns more effectively.

Learn to manage your cash flow effectively

Live frugally and resist the temptation to spend money on unnecessary luxuries. Instead, focus on saving and investing your money wisely to build long-term wealth and financial security.

Avoid living above your means and prioritize saving & investing

Diversify your sources of income by building multiple streams, such as rental income, investment returns, or income from a side business. This will reduce your reliance on any single source of income and provide greater stability and security in the long run.

Create multiple streams of income

Teachings for understanding and succeeding financially.

Get obsessed with what you want to do in life. If you love Mathematics, become a Mathematician. It shouldn’t matter to you if it earns you a good living or not.Whatever you do, do it the best way. You are paid for the service you give to the world. If you can provide solutions to the problems you love, you are qualified to earn money, a lot of it.<ul><li>Pick any skill</li><li>Laser focus in on it</li><li>Devote 4 hours a day</li><li class="ql-align-justify">Complete 10,000 hours to achieve Mastery</li></ul>

Follow Your Passion

<ul><li class="ql-align-justify">do what you love</li><li class="ql-align-justify">do it in public</li><li class="ql-align-justify">gather an audience</li><li class="ql-align-justify">monetize it</li><li class="ql-align-justify">sell them a product</li></ul>There are 8 billion+ people on this planet. At least 1,000 people have the exact same interests and conditions as you right now. Create the type of content you relate to. And since many people have same interests as you, they'll relate to your content and find it interesting.

The One Person Business

If you like being a Physicist,<ul><li class="ql-align-justify">Put out content related to Physics</li><li class="ql-align-justify">Teach what you learned as a Physicist</li><li class="ql-align-justify">Document your journey as a Physicist</li><li class="ql-align-justify">Fix problems that you faced on your journey</li><li class="ql-align-justify">Sell those solutions, packaged as products to your already existing audience that’ll buy your product</li></ul>

Start out with writing. Write on platforms like deepstash, medium and twitter.Learn these evergreen skills:<ul><li>Sales & Marketing</li><li>Persuasive Writing ( copywriting )</li><li>Communication</li><li class="ql-align-justify">Basic Graphic Designing</li></ul>After you've gained enough experience with writing, simply convert your writings into YouTube videos that provide value. This business only requires a max of 2 hours a day.📚If you want more of these ideas and clarity, then subscribe to <a href="https://binsletter.beehiiv.com/subscribe">my free weekly newsletter here</a> to get stronger every week 💪

The Steps to One Person Business

It’s not impossible to earn a lot of money doing what you love. Thanks to the internet, earning money for anyone, has become way easier than it used to be.

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Marketing & Sales

Make money doing literally anything

Find 100+ Ideas and Facts about Money - Curated from interesting sources like Books, Podcasts & Articles - Genuine Insights from like-minded Users like You!

Chairman's Letter - 1982

Rich Dad, Poor Dad

Work Smarter, not Harder — Attracting a Passive Income

Chairman's Letter - 1981

How to make $10,000 in the next 6 months

Sui

Honda

Fallout : The Post-Apocalypse Capitalism Manifesto

Rich Dad, Poor Dad

Make money doing literally anything

It's time to Read like a Pro.

It's time to
Read like a Pro.