1.
Antifragility
The problem statement of people are already rich and those who wish to be rich are different. In this wonderful article, the author Graham Duncan, talks about what to do if you do have been lucky to make a lot of money.
Design an anti-fragile system for you, your family, and your money. Taleb has a great quick test for anti-fragility: If you have more to lose than to benefit from events of fate, there is an asymmetry, and not a good one…You are fragile.
When you become rich, the pain of losing your fortune exceeds the emotional gain of getting additional wealth, so you start living under continuous emotional threat. A rich person becomes trapped by belongings that take control of him, degrading his sleep at night, raising the serum concentration of his stress hormones, diminishing his sense of humor, perhaps even causing hair to grow on the tip of his nose and similar ailments. Seneca fathomed that possessions make us worry about downside, thus acting as a punishment as we depend on them. Even more: dependence on circumstances — rather, the emotions that arise from circumstances — induces a form of slavery.
2.
Hell Yeah!! Or No.
The biggest advantage of not having to work for money is to be able to choose what I spend my time and energy on. This concept of “Hell Yeah!! Or No.” is something I really like. If I am not full heartedly in favour of doing something I will let it pass.
This article talks about how to respond to requests for time, even if is a small one,
One of my biggest weaknesses in life is that I too often say yes. I'm passionate about startups. I get excited about new ideas. I love making new friends online. And, it's so much easier to say yes than it is to say no. “Yes” is more fun and carries less guilt (in the short term).
However, I've learned the lesson that every time that I say yes to something new, I am effectively saying no to something else. And, I've already said yes to too many things, and so have to say “no” to you. No, I can't accept a request for a call, a meeting or some time to review your startup or your business opportunity. Embarrassingly, I'm unlikely to be able to respond to your email (though I do read just about all of them).
Although my heart says yes, I MUST SAY NO.
I know you feel like you're asking for so little (“I just need 15 minutes for a quick call…”), and you are. But, there are just not enough hours in the day, or days in the week (I work all 7) to review or respond to all those that reach out. I confess that I am overwhelmed. My sincere apologies. I wish I could bend the laws of space and time, but unfortunately, my past efforts at doing this have proven futile.
Thought of the Week
“The irony is that this is a money game and money is the way we keep score. But the real object of the Game is not money, but it is the playing of the Game itself. For the true players, you could take all the trophies away and substitute plastic beads or whale’s teeth; as long as there is a way to keep score, they will play.”
~ Adam Smith, The Money Game
Video of the Week
Intelsense Insights
To subscribe to any of our services, visit us at https://intelsense.in
DISCLAIMER:
Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
SEBI Registered Research Analyst - Registration Number: INH300006607
Registration granted by SEBI and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.