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Module Units
- 1. Introduction
- 2. Investment In Yourself
- 3. Become A Learning Machine
- 4. Obtain Worldly Wisdom
- 5. Harnessing The Power Of Passion
- 6. The Importance Of Choosing The Right Role Models
- 7. Humility Is The Gateway To Attaining Wisdom
- 8. The Virtues Of Philanthropy And Good Karma
- 9. Simplicity Is The Ultimate Sophistication
- 10. Achieving Financial Independence
- 11. Living Life According To The Inner Scorecard
- 12. Delayed Gratification
- 13. Building Earning Power
- 14. Investing Between The Lines
- 15. Decision-Making
- 16. Checklist For The Standard Causes Of Human Misjudgment
- 17. Journaling
- 18. Power Of Incentives
- 19. Avoid Physics Envy
- 20. Intelligent Investing
- 21. The Three Most Important Words In Investing
- 22. Investing Is All About Capital Cycle
- 23. Analyzing Special Situations
- 24. The Holy Grail Of Long-Term Investing
- 25. Connecting The Dots
- 26. Market Is Not Efficient All Time
- 27. The Dynamic Art Of Portfolio Management
- 28. To Finish First, You Must First Finish
- 29. Read More History And Fewer Forecasts
- 30. Updating Your Beliefs In Light of New Evidence
- 31. Opportunity Costs
- 32. Pattern Recognition
- 33. Role of Luck, Chance, Serendipity, And Randomness
- 34. Value Investor
- 35. Conclusion
Humility Is The Gateway To Attaining Wisdom
"The more successful you are at something, the more convinced you are that you are doing it correctly. The more confident you are that you are doing everything correctly, the less open to change.”Morgan Housel
The less open you are to change, the more likely you are to trip in a world that is constantly changing. There are a million ways to get rich. But there is only one way to stay rich: humility, often to the point of paranoia.
The irony is that few things squash humility more than become wealthy in the first place. It's why the composition of Dow Jones companies changes so dramatically over time and why the Forbes list of billionaires has a 60 percent turnover every decade. But, of course, humility does not imply taking fewer risks. Sequoia Capital (Venture Capital Company) takes just as many risks today as it did 30 years ago.
But it has taken risks in new industries, with new approaches, and new partners, cognizant that what worked yesterday isn’t what will work tomorrow.
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