Money and Finance
- Harvey Firestone Quote
From Men and Rubber: The Story of Business: Sometimes it seems that it might be better to go back to those simpler days, that one might get more out of a less complex life. But it cannot be done. One changes with prosperity. We all think we should...
- Fundamentals...
A big thanks to Jason Zweig for mentioning me and this blog in his article Read ‘Em and Reap: Smart People for Investors to Follow. That recognition from someone I admire--and that I think just about every value investor would put near the top of their...
- Latest Book Purchases...
Like some others that probably follow this blog, I tend to be in the habit of buying more books than I can read. Shane over at Farnam Street had a great post on reading where he discussed some of his habits as well, which I recommend reading, HERE. So...
- Oak Value Fund: Investment Adviser’s Review – First Quarter 2010
“We are what we repeatedly do.” – Aristotle In suggesting the importance of habits in the pursuit of excellence, Aristotle provided an instructive framework for investing. Successful companies, such as those we target for the Oak Value Fund (the...
- Is Thinking Back In Fashion? – By Lane Wallace
Thinking may be coming back into fashion. Never mind the fact that we have a President known for his intellectually rigorous abilities and habits. But three times in the past couple of weeks, I've encountered business people discussing Aristotle....
Money and Finance
The Power of Habit Investments – By Leo Babauta
I’ve come to believe that two major forces can greatly improve processes for doing all kinds of things: HABITS and CHECKLISTS. The article linked to below discusses a little about the habit side of things, and there are two good books that can give you a more thorough rundown of habits and checklists, if you haven’t yet read them: The Power of Habit and The Checklist Manifesto. I've been tinkering with my learning process over the last few months to develop some sustainable habits, and I think I've finally got something down that I really like. But that is a topic for another post, on another day.
One of the things I’ve learned in my last 7 years of creating new habits is the power of compound habit interest.
It sounds really obvious when you say it, but if you do something small repeatedly, the benefits accrue greatly over time. It’s obvious, but not everyone puts it into practice.
It’s like putting a little extra cash into an index investment fund … let’s say you put in just $5/day (less than you spend at Starbucks perhaps) … at the end of 20 years, you’d have almost $70,000 if you could make just 6 percent interest, and closer to $90,000 if you could make 8 percent. Change that to just $8/day, and you’re now talking about $140,000 or so. It adds up greatly over time.
The same principle applies to habits.
- Harvey Firestone Quote
From Men and Rubber: The Story of Business: Sometimes it seems that it might be better to go back to those simpler days, that one might get more out of a less complex life. But it cannot be done. One changes with prosperity. We all think we should...
- Fundamentals...
A big thanks to Jason Zweig for mentioning me and this blog in his article Read ‘Em and Reap: Smart People for Investors to Follow. That recognition from someone I admire--and that I think just about every value investor would put near the top of their...
- Latest Book Purchases...
Like some others that probably follow this blog, I tend to be in the habit of buying more books than I can read. Shane over at Farnam Street had a great post on reading where he discussed some of his habits as well, which I recommend reading, HERE. So...
- Oak Value Fund: Investment Adviser’s Review – First Quarter 2010
“We are what we repeatedly do.” – Aristotle In suggesting the importance of habits in the pursuit of excellence, Aristotle provided an instructive framework for investing. Successful companies, such as those we target for the Oak Value Fund (the...
- Is Thinking Back In Fashion? – By Lane Wallace
Thinking may be coming back into fashion. Never mind the fact that we have a President known for his intellectually rigorous abilities and habits. But three times in the past couple of weeks, I've encountered business people discussing Aristotle....