It's More Important To Do Big Things

The Biggest Mistake Investors Make Is To Believe That What Happened In The Recent Past Is Likely To Persist. They Assume That Something That Was A Good Investment In The Recent Past Is Still A Good Investment. Typically, High Past Returns Simply Imply That An Asset Has Become More Expensive And Is A Poorer, Not Better, Investment.

You Should Have A Strategic Asset Allocation Mix That Assumes That You Don't Know What The Future Is Going To Hold.

Principles Are Concepts That Can Be Applied Over And Over Again In Similar Circumstances As Distinct From Narrow Answers To Specific Questions. Every Game Has Principles That Successful Players Master To Achieve Winning Results. So Does Life. Principles Are Ways Of Successfully Dealing With The Laws Of Nature Or The Laws Of Life. Those Who Understand More Of Them And Understand Them Well Know How To Interact With The World More Effectively Than Those Who Know Fewer Of Them Or Know Them Less Well.

Some People Have Subject Matter Expertise In One Thing. Some People Tend To Be Creative But Not Reliable, And Others Are Reliable But Not Creative. Everybody Has Different Dimensions.

Remember That Experience Creates Internalization. Doing Things Repeatedly Leads To Internalization, Which Produces A Quality Of Understanding That Is Generally Vastly Superior To Intellectualized Learning.