Words to Start the Week (March 25, 2025)
Nuggets from past notes
“I have an old-fashioned belief that I only should expect to make money in things that I understand. I don’t mean understand what the product does. I mean understand what the economics of the business are likely to look like ten years from now”
- Warren Buffett
“The saying goes that optimists tend to be successful and pessimists tend to be right. And the idea is that if you think something is going to be terrible and it is going to fail, then you are going to look for the data points that prove you are right and you will find them. That is what pessimists do. But if you think that something is possible, then you are going to try to find a way to make it work. And even when you make mistakes along the way and even when people doubt you, you are going to keep pushing until you find a way to make it happen”
- Mark Zuckerberg
“Ideas are dangerous, but the man to whom they are least dangerous is the man of ideas. He is acquainted with ideas, and moves among them like a lion-tamer. Ideas are dangerous, but the man to whom they are most dangerous is the man of no ideas. The man of no ideas will find the first idea fly to his head like wine to the head of a teetotaller”
“Human nature makes it hard to accept the idea that the willingness to live with some losses is an essential ingredient in investment success”
“Sell cheap and tell the truth, don’t cheat nobody, and don’t take no kickbacks”