The Joys of Compounding by Gautam Baid

Key Takeaways

  1. The best investment of time is to invest in personal development.

  2. The way to achieve success in life is to learn constantly. And the best way to learn is to read, and to do so effectively.

  3. The rich have money. The wealthy have control over their time.

  4. Study the science of art. Study the art of science. Develop your senses—especially learn how to see. Realize that everything connects to everything else. —Leonardo da Vinci

  5. Excellent resource to build up one’s latticework.1) As the Chinese proverb goes, “I forget what I hear; I remember what I see; I know what I do.” Because the best way to learn something is by practicing it, we must routinely apply the mental models to different situations in our daily lives.

  6. Deliberate practice, it helps us identify our leverage

  7. Doubt is not a pleasant condition, but certainty is absurd. —Voltaire

  8. Charles Collier writes, in his guidebook on philanthropy Wealth in Families, that “according to Aristotle and his latter-day student, Thomas Jefferson, the ‘pursuit of happiness’ has to do with an internal journey of learning to know ourselves and an external journey of service of others.”

  9. Buffett’s key takeaway from The Intelligent Investor was this: If you eliminate the downside, then all that remains is the upside. After that, the key is to keep emotions in check and be patient. It really is that simple.

  10. Investing is not about being original or creative; it is about looking for the greatest amount of value (for the price paid) with the least amount of risk. Putting in more time and effort does not guarantee better results in investing. Rather, it is more beneficial to do less and make fewer but better choices.

  11. “The goal of investment is to find situations where it is safe not to diversify.”

  12. One of the hardest things to do in life is to avoid good opportunities so that you have time to devote to great opportunities—and having the wisdom to know the difference.



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