One of the things I keep in my office is a set of files detailing things I like. I’ve always said that in another 7 years or so when I reach my mid-thirties and probably have kids, I will switch my primary residence to an estate or high rise in a tax-free state like Florida,…
I’m re-reading “Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger” by Janet Lowe and came across a passage that illustrates exactly the sort of thing I’m talking about when I harp on acquiring assets that constantly churn out piles of cash for you spend, redeploy into new investments, give to charity, or…
[mainbodyad]It always struck me as particularly stupid when people complained about the cost of gasoline, even when I was a teenager with very little money just learning about how investing worked. It seemed perfectly obvious to me that if an increase of $1 per gallon cut into your standard of living, you were living so…
How do you know if you are on the right path and that you will satisfied with your choices? [mainbodyad]Close your eyes for a moment. Imagine that for the next ten years, you continue to do exactly what you do now. You eat the same foods, dress the same way, go to the same job,…
One of the best things you can do for certain types of businesses is to fire bad customers who won’t allow you to earn a profit. You cannot chase sales simply for the illusion of rising revenue. What matters is how much excess cash your business generates at the end of the year that can…
Everyone thinks life is one upward, smooth trajectory. They think of Cinderella in her big castle and forget that she spent decades scrubbing floors, being beaten, and locked in a cold room. Between “Once upon a time” and “Happily ever after” a lot happens. Not all of it is good. – Joshua Kennon
At 31 years old, Charlie Munger was divorced, broke, and burying his 9 year old son, who had died from cancer. By the time he was 69 years old, he had become one of the richest 400 people in the world, been married to his second wife for 35+ years, had eight wonderful children, countless…
I’ve written about my Creed fragrance addiction in the past – we’re up to something like 17 bottles, most of which have been purchased at Hall’s Department Store in Kansas City. In the past couple of years alone, I’ve probably spent $4,000 or $5,000 on myself, not including any Creed that I’ve purchased as…