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Most of the mail bag questions come from letters submitted through the contact form, on Facebook, through About.com, etc. But every once in awhile, I’ll elevate a question submitted in the comments section of an article to a mail bag post if I think the response might be useful to others, rather than just the…
A Lesson On Life and Money from Big Daddy Pollitt In the film adaptation of the Tony winning Tennessee Williams play Cat on a Hot Tin Roof, Big Daddy Pollitt (Burl Ives), a very wealthy planation owner in Mississippi who built his fortune from nothing, learns he is dying from an inoperable cancer. There is a…
There is an old Rolex ad featuring the explorer Sir Edmund Hillary. The tagline was powerful. “People do not decide to become extraordinary. They decide to accomplish extraordinary things.” You are nothing more, and nothing less, than the choices you’ve made in your life. Warren Buffett is Warren Buffett because he chose to start a business…
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who…
Very early in life, I had three important insights that helped me achieve the things I desired within a year or two after graduating college. These three insights were based upon my observation of the world and years of sitting in a reading chair by the fireplace pouring over history, accounting, economics, philosophy, psychology, ethics,…
There is a story told by Dr. Harry Emerson Fosdick that is a perfect lesson for happiness and success in life: On the slope of Long’s Peak in Colorado lies the rum of a gigantic tree. Naturalists tell us that it stood for some four hundred years. It was a seedling when Columbus landed at…
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…
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