The Practical Way

Quotes Leonardo da Vinci

A well-spent day brings happy sleep.
— Leonardo da Vinci

All our knowledge has its origins in our perceptions.
— Leonardo da Vinci

Although nature commences with reason and ends in experience it is necessary for us to do the opposite, that is to commence with experience and from this to proceed to investigate the reason.
— Leonardo da Vinci

Anyone who conducts an argument by appealing to authority is not using his intelligence; he is just using his memory.
— Leonardo da Vinci

Art is never finished, only abandoned.
— Leonardo da Vinci

Quotes Plato

A good decision is based on knowledge and not on numbers.
— Plato

A hero is born among a hundred, a wise man is found among a thousand, but an accomplished one might not be found even among a hundred thousand men.
— Plato

A state arises, as I conceive, out of the needs of mankind; no one is self-sufficing, but all of us have many wants.
— Plato

All men are by nature equal, made all of the same earth by one Workman; and however we deceive ourselves, as dear unto God is the poor peasant as the mighty prince.
— Plato

All the gold which is under or upon the earth is not enough to give in exchange for virtue.
— Plato

Quotes Anthony Robbins

A real decision is measured by the fact that you’ve taken a new action. If there’s no action, you haven’t truly decided.
— Anthony Robbins

Beliefs have the power to create and the power to destroy. Human beings have the awesome ability to take any experience of their lives and create a meaning that disempowers them or one that can literally save their lives.
— Anthony Robbins

For changes to be of any true value, they’ve got to be lasting and consistent.
— Anthony Robbins

How am I going to live today in order to create the tomorrow I’m committed to?
— Anthony Robbins

I challenge you to make your life a masterpiece. I challenge you to join the ranks of those people who live what they teach, who walk their talk.
— Anthony Robbins

Quotes Socrates

A system of morality which is based on relative emotional values is a mere illusion, a thoroughly vulgar conception which has nothing sound in it and nothing true.
— Socrates

All men’s souls are immortal, but the souls of the righteous are immortal and divine.
— Socrates

An honest man is always a child.
— Socrates

As for me, all I know is that I know nothing.
— Socrates

As to marriage or celibacy, let a man take which course he will, he will be sure to repent.
— Socrates

Quotes Mark Twain

A man cannot be comfortable without his own approval.
— Mark Twain

A man is never more truthful than when he acknowledges himself a liar.
— Mark Twain

A man who carries a cat by the tail learns something he can learn in no other way.
— Mark Twain

A man’s character may be learned from the adjectives which he habitually uses in conversation.
— Mark Twain

A person who won’t read has no advantage over one who can’t read.
— Mark Twain

Quotes Warren Buffett

A public-opinion poll is no substitute for thought.
— Warren Buffett

Beware of geeks bearing formulas.
— Warren Buffett

Chains of habit are too light to be felt until they are too heavy to be broken.
— Warren Buffett

Derivatives are financial weapons of mass destruction.
— Warren Buffett

I always knew I was going to be rich. I don’t think I ever doubted it for a minute.
— Warren Buffett

Quotes Aristotle

A constitution is the arrangement of magistracies in a state.
— Aristotle

A friend to all is a friend to none.
— Aristotle

A great city is not to be confounded with a populous one.
— Aristotle

A sense is what has the power of receiving into itself the sensible forms of things without the matter, in the way in which a piece of wax takes on the impress of a signet-ring without the iron or gold.
— Aristotle

A tragedy is a representation of an action that is whole and complete and of a certain magnitude. A whole is what has a beginning and middle and end.
— Aristotle

Quotes Albert Einstein

A man should look for what is, and not for what he thinks should be.
— Albert Einstein

A perfection of means, and confusion of aims, seems to be our main problem.
— Albert Einstein

A person who never made a mistake never tried anything new.
— Albert Einstein

A question that sometimes drives me hazy: am I or are the others crazy?
— Albert Einstein

A table, a chair, a bowl of fruit and a violin; what else does a man need to be happy?
— Albert Einstein

Learn from Warren Buffett’s personal portfolio

I read an article the other day by Robert Miles on the website of Morningstar that talked about the personal portfolio of Warren Buffett. That is the stocks that Warren has in his name and not under Berkshire Hathaway. I include here the major points from this article:

Buffett’s private portfolio represents less than five percent of his net worth, but that five percent is substantial by anyone’s measure–with a recent value of $1.8 billion. Certainly worth paying attention to.

This also answers the question often asked, “How does Warren Buffett live on a salary of $100,000 per year, with one of the lowest CEO compensation packages among the Fortune 500 companies?”[...]

Charlie Munger on How to Get Rich

1. Measure risk
All investment evaluations should begin by measuring risk, especially reputational.
In 2003-2007, investors loved banks because they were big and made lots of money. What few asked was how much risk they were taking on. Those who properly analyze how much risk the run-ups have added will end up happiest.

2. Be independent
Only in fairy tales are emperors told they’re naked.
Maybe the hardest part of investing is that the greatest odds of being right come when most think you’re wrong, and vice versa.[...]