what my friends think i do

Buffett wisdom

“There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning. I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?”

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”

“No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant.”

“Life is like a snowball. The important thing is finding wet snow and a really long hill. ”

 “I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection."

“It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.”

“You know ... you keep doing the same things and you keep getting the same result over and over again.”

"You never know who's swimming naked until the tide goes out." 

“Never ask a barber if you need a haircut.”

double or nothing

materialism

Warren Buffett's 'Secret Millionaires Club"

O "Secret Millionaires Club" é um programa de televisão que tem como objectivo ensinar às crianças algumas lições básicas sobre dinheiro.

Paralelamente, é lançado um concurso em que miúdos americanos fazem um "pitch" de ideias de negócio, sendo que os finalistas terão o privilégio de apresentar essas ideias ao próprio Warren Buffett.

Às vezes gostava de ser criança outra vez - a minha vida teria sido muito diferente se tivesse conhecido o Warren Buffett aos 8 anos.

(more info at Secretmillionairesclub.com and CNBC.com)

money making machine

This is what us, kids, are taught in Finance majors these days:

"Suppose we sell short 300,000 shares of Dreck and use the $3 million proceeds to buy 100,000 shares each of Apex, Bull, and Crush. The dollar profits in each of the four scenarios will be as follows:

The first column verifies that the net investment is zero. Yet our portfolio yields a positive profit in any scenario. This is a money machine.

Investors will want to take an infinite position in such a portfolio because larger positions entail no risk of losses, yet yield evergrowing profits. In principle, even a single investor would take such large positions that the market would react to the buying and selling pressure: The price of Dreck has to come down and/or the prices of Apex, Bull, and Crush have to go up. The arbitrage opportunity will then be eliminated."

(in Investments)

time is money

Este despertador que começa a destruir notas se não nos levantarmos da cama quando o despertador toca é mesmo a motivação de que estou a precisar para voltar a levantar-me ao primeiro toque do despertador (!)

(in Design Milk)