1.
Even the moon has a dark side ~ Buffett and the controversy over his personal trading account
Berkshire was already one of Wells Fargo’s largest shareholders, and Buffett was so influential that, Fortune noted, he had “caused a 20%-plus jump in Wells shares” the previous month “simply by expressing confidence in the bank on TV.” After the Fortune interview appeared, a similar pattern ensued: Buffett’s comments rippled across financial media, eagerly lapped up by the legion of investing fans who followed his every move. By April 24, Wells Fargo shares had jumped 13%.
That day, Buffett privately sold off $20 million worth of Wells Fargo shares in his personal account.
It has long been known that Buffett keeps a personal stock portfolio, separate from his company’s holdings. But what’s inside of it has always been a closely guarded secret. Buffett’s hand-picked biographer, Alice Schroeder, told ProPublica that he gave her access to nearly everyone and everything in his life — except his personal investing records.
But roughly two decades of Buffett’s personal trades were included in a leak of IRS data obtained by ProPublica. Those records show that the nation’s best known and most respected investor has sometimes said one thing in public and done another in private.
My personal take is that Buffett’s personal trading account is probably inconsequential in terms of wealth compared to his holding in Berkshire. Buffett has a very long and stellar reputation that has been built over decades of good behaviour. Though we should be aware of such actions we need to give a benefit of doubt to Buffett on this.
2.
The stories in the mind
Three types of storytellers live in your mind. One of them is devious, telling you that you’re not good enough and that things aren’t going to go your way. Another storyteller is the flatterer, who tells you you’re better than everybody else. The third type is the reasonable storyteller, who looks for reasons or excuses why things happen. None of these are equipped to help you achieve your goals.
People should train their brains to become an empowering storyteller versus using the devious, flattering, or reasonable storyteller. The empowering storyteller liberates you by turning problems into opportunities.
If you set a goal with your conscious mind and are fired up and passionate about it, the subconscious mind doesn’t know if you really deserve it so the subconscious could sabotage you. The conscious mind is the goal-setter, and the unconscious mind is the goal-getter, hence the two need to be in alignment.
Another way to rewire your brain is by tapping into your brain’s reticular activating system which is like a Google search engine which provides you with the information you are looking for. If we have a negative mindset of feeling that everyone is against us it will prove us right by making us focus on all the bad things around us.
Thought of the Week
"Never think about what's at stake. If you start thinking about who is going to win the championship, you've lost your focus."
"Just play, have fun, enjoy the game."
"You have to expect things of yourself before you can do them."
~ From Life Lessons from Michael Jordan
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