12 Best Quotes from the Book “The Obstacle Is the Way”

⚡️Book Review⚡️

1. “Whatever we face, we have a choice: Will we be blocked by obstacles, or will we advance through and over them?”

2. “There is no good or bad without us, there is only perception. There is the event itself and the story we tell ourselves about what it means.”

3. “Focusing exclusively on what is in our power magnifies and enhances our power.”

4. “Our perceptions determine, to an incredibly large degree, what we are and are not capable of. In many ways, they determine reality itself.

👉When we believe in the obstacle more than in the goal, which will inevitably triumph?”

10 Insightful Lessons From the Book “Ego is the Enemy”

⚡️Book Review⚡️

1: Your worst enemy lives in you

It is true that all of us, with no exemption, harbors a certain level of pride and ego.

Since pride is in us, it is either we feed it or starve it.

👉How you deal with your pride makes the big difference.

2: Manage your pride

As soon as you feel you are becoming egoistic, boastful, and proud – you can tell yourself to stop.

👉Instead of directing people’s attention to you, choose to direct attention to others.

3: Pride tells you to talk, humility tells you to listen

Ego encourages you to lift yourself and base your worth on nothing or false worth.

On the other hand, humility tells you how important it is to listen to people.

👉So, we listen twice as much as we talk.

4: Become a student

Ego tells you not to listen to anyone. As a result, you stop learning. You stop growing.

So, if you want to keep on learning, learn to be humble first.

✅That’s how you become Great.

15 Deep Philosophy Quotes of “Epictetus”

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1. “Any person capable of angering you becomes your master."

- Epictetus

2. “Circumstances don't make the man, they only reveal him to himself."

- Epictetus

3. “Don't just say that you have read books. Show that through them you have learned to think better."

- Epictetus

4. “There is only one way to happiness and that is to cease worrying about things which are beyond the power of our will."

- Epictetus

Way to #Financial freedom

1) Rule of 72 (Double Your Money)
2) Rule of 114 (Triple)
3) Rule of 144 (Quadruple)
4) Rule of 70 (Inflation)
5) 4% Withdrawal Rule
6) 100 - Minus Age Rule
7) 10, 5, 3 Rule
8) 50-30-20 Rule
9) 3X Emergency Rule
10) 40% EMI Rule
11) Life Insurance Rule

1) Rule of 72
No. of yrs required to double your money at a given rate, U just divide 72 by interest rate
Eg, if U want to know how long it will take to double your money at 8% interest, divide 72 by 8 and get 9 yrs

At 6% rate, it will take 12 yrs
At 9% rate, it will take 8 yrs

3) Rule of 144

No. of years required to, quadruple your money at a given rate, U just divide 144 by interest rate.

For eg, if U want to know how long it will take to quadruple your money at 12% interest, divide 144 by 12 and get 12 yrs

At a 6% interest rate, it will take 24yrs

4) Rule of 70

Divide 70 by the current inflation rate to know how fast the value of your investment will get reduced to half its present value.

The inflation rate of 7% will reduce the value of your money to half in 10 years.

5) 4% Rule for Financial Freedom

Corpus Reqd- 25*Annual Expenses

Eg- the annual expense is 500,000 then the corpus required to retire is 1.25 cr.

Put 50% into fixed income & 50% into equity.

Withdraw 4% every yr, i.e.5 lac.

This rule works for 96% of the time in 30 yr period

Get a cup of coffee.

Let's kickstart 2022!

To that end, here are 22 key concepts to help you appreciate and achieve Financial Independence.

Concept #1.

What is Financial Independence?

It's a state of *self-sufficiency*. It's when you have enough money, and enough income-producing assets, that you and your family can live comfortably for the rest of your lives -- WITHOUT needing a job.

Concept #2.

Financial Independence is not really about spending MONEY how we like -- although, to an extent, that becomes possible.

It's about being FREE to spend our TIME how we like.

Concept #3.

Financial Independence is not really about quitting our jobs and retiring from work -- although that's possible.

It's about being FREE to pursue *whatever* kind of work we find most fulfilling. Things we love to do. Things the world benefits from. Etc.

Concept #4.

For most of us, the path to Financial Independence consists of:

- Starting Early,
- Saving Diligently, and
- Investing Responsibly.

Here's an inspiring story of a janitor who amassed an $8M fortune by following this very playbook:

The most memorable interview I did this year was w/ Stanley Druckenmiller, who famously made $1B shorting the British Pound.

The trading legend's track record includes a 30-year stretch returning 30%+ a year (without a single down year).

Here are 8 investing lessons🧵

1/ Make concentrated bets in high conviction plays

2/ Concentrated bets can sometimes *reduce* risk

3/ Use a multi-disciplinary approach to investing

4/ Know when to sell (he never uses a stop loss)

The Cantillon Effect is the most important economic concept you’ve never heard of.

Here's a breakdown of what it is (and why you should care):

1/ Richard Cantillon was an Irish-French economist and philosopher born in the 1680s.

He achieved success as a banker—which he attributed to the formidable connections made through his family and employer.

At a young age, he had learned of the impact of proximity to power...

2/ Around 1730, Cantillon wrote a paper—Essay on the Nature of Commerce in General—which is considered a foundational work in the study of the political economy.

It was widely circulated in manuscript form, though it was not published until 1755, well after his death.

3/ In the paper, Cantillon posited that the early recipients of new money entering an economy will benefit more significantly than those it trickles down to.

In other words, the "flow path" of the new money matters!

4/ In 18th century terms, those closest to the King—the source of money/power—benefitted first when new money entered the economy.

Broadly, Cantillon observed that new money creates distributional effects based on where it enters the system.

The Cantillon Effect was born...

27 Life Lessons You Should Learn From The Game Of Chess.

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1. Make every move with an intent. Align your actions with a pre determined strategy.

2. Learn to play and live less obviously. Be unpredictable and interesting.

3. Always consider the whole board when deciding on a move. See the big picture.

4. Spot patterns. Learn to see patterns and take advantage of them.

5. Play for the advantage. If you already have it, maintain it. If you don't have it, create it.

6. Accumulate small advantages.

7. Trade wisely. Where possible, trade low value positions for better ones.

8. Everyone's playing their game. The problem is that not everyone knows they are playing.

9. Castle your king. Protect the things that are most important.

10. Cut your losses. Sometimes you are going to lose. Try to minimize your losses and move on.

11. Never get too comfortable. Keep thinking, looking for new opportunities.

12. Every move is important.

The Feynman Technique—how to learn anything:

The Feynman Technique is a foundational learning method that prioritizes simplicity and depth of understanding.

It was developed by Richard Feynman—an American theoretical physicist who won the Nobel Prize in 1965 for his groundbreaking work in quantum electrodynamics.

So yes, you could say that Richard Feynman was intelligent...

But there are a lot of intelligent people in the world.

Feynman's true genius was found in his ability to convey extremely complex ideas in simple, elegant, digestible ways.

He had observed that complexity and jargon are often used to mask a lack of deep understanding.

As a rule:

If someone uses a lot of acronyms, complexity, and jargon to explain something to you, they probably don’t understand it.

We've all encountered this type of "expert"...

The Feynman Technique is a learning framework that forces you to develop a deep, elegant understanding of a given topic.

It involves four key steps:
(1) Set the Stage
(2) ELI5 (Explain It To Me Like I'm 5)
(3) Assess & Study
(4) Organize, Convey & Review

Let's cover each step:

Marathon Asset produced several iconic investors such as Nick Sleep and Jeremy Hosking.

Their letters from 2002 to 2015 provided a treasure trove of insights into their investment frameworks and how they look at the capital cycle.

Here are my main takeaways:

1/ Periods of high profitability leads to reckless investments.

When profits are high:

-Boost CAPEX with little regard for ROIC
-Competitors will follow suit to avoid losing market share
-CEO's incentives aren't aligned with shareholders

It's a race to the bottom.

2/ The capital cycle will swing down when investments are taken too far.

Forecasts that were reasonable will now look overly optimistic.

Profits collapse, management teams are changed, CAPEX is cut, and consolidation begins.

This will pave way for a recovery of profits.

3/ Asset growth matters

Consider both asset growth at the company and industry level.

Avoid industries where assets are growing rapidly.

4/ We tend to extrapolate

When overdone, investments that appear logical at first can become disastrous.

We have a tendency to forecast linearly when many things are cyclical.

Examples: trade cycles, credit cycles, etc

20 life lessons you’ll learn from sports (but not from school):

Nothing great is achieved by complaining.

Complaining wastes time and energy.

Improving yourself takes time and energy.

Choose wisely.

Optimists win.

If you think you can’t win — you’ve already lost.

If you believe you can win — you’ve got a chance.

How to take feedback.

The best coaches & teammates call you out on your bullsh*t.

They don’t accept mediocrity or even average.

Instead of getting upset, listen to the feedback and apply it.

Value people who change their mind when given new information.

Even better if they actively try to disprove their own assumptions.

You thought one strategy would work but it’s not.

What do you do?

Evaluate, adjust, and keep going.

The spiritual path, a thread:

The spiritual path is not for the faint of heart.

It is both the toughest of life’s paths and the most rewarding.

All journeys are unique.

But all lead to the same place: total love and oneness.

The path requires alignment of mind, body, and spirit.

All are a part of You.

One without the other leads to imbalance.

Recognize and nurture all aspects of You.

I’ll show you how.

1/ Mind

Your mind is trying to process all available information to protect you.

The problem: it gets tripped up.

We live in a world of constant fear-based stimulation.

Most of modern society is designed to feed and profit off of your mind.

1.1/ Pause your mind

This is effectively what meditation is and why it’s so powerful.

Some meditators use a mantra so as to have one repetitive thing to repeat.

This helps unwind cyclical thoughts.

It breaks the mind free from it’s shackles.

It stops the churn.

Mental models can save your life.

But psychological biases can ruin it.

Here are 10 psychological biases to help you avoid a life of pain and suffering:

1. Doubt-avoidance:

Doubt and uncertainty make us feel uncomfortable.

And when we don't have clarity, we start rushing decisions to avoid that feeling of uncertainty.

When in doubt, take a deep breath and sleep on it before making a decision.

2. Overoptimism bias:

When we want something badly, we start overestimating our odds of success.

It's why so many people bet on their sports team to win.

It's also why millions buy lottery tickets.

Don't let what you want cloud your judgment of what you should do.

3. Reciprocation:

The tendency to treat others as they've treated us.

When treated well: "You scratch my back, I'll scratch yours."

When treated badly: "An eye for an eye."

Sometimes this tendency can lead to endless conflict.

Resist the urge to reciprocate bad behaviour.

4. Social Proof:

We copy other people's behaviour when making decisions.

Especially when we're feeling uncertain.

This is why so many ads have celebrity endorsements and user testimonials.

Next time you make a decision, be mindful of other people's influence.

15 Deep Philosophy Quotes From “Albert Einstein "

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1. "Weak people revenge. Strong people forgive. Intelligent People Ignore."

- Albert Einstein

2. "The world will not be destroyed by those who do evil,

but by those who watch them without doing anything."

- Albert Einstein

3. "Don't wait for miracles, your whole life is a miracle."

- Albert Einstein

4. "The measure of intelligence is the ability to change."

- Albert Einstein

15 Deep Philosophy Quotes From “Rumi "

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1. “Goodbyes are only for those who love with their eyes.

Because for those who love with heart and soul there is no such thing as separation."

– Rumi

2. “Raise your words, not voice. It is rain that grows flowers, not thunder.”

- Rumi

3. “Don’t grieve. Anything you lose comes round in another form."

– Rumi

4. “Whenever you are alone, remind yourself that God has sent everyone else away so that there is only you and Him."

- Rumi

15 Deep Philosophy Quotes From "Seneca"

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1. “Religion is regarded by the common people as true, by the wise as false, and by rulers as useful.”

- Seneca

2. “Sometimes even to live is an act of courage.”

- Seneca

3. "Associate with people who are likely to improve you.

Welcome those who you are capable of improving.

The process is a mutual one: men learn as they teach."

- Seneca

4. “Being poor is not having too little, it is wanting more.”

- Seneca

15 Deep Philosophy Quotes From "Friedrich Nietzsche"

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1. “Sometimes people don't want to hear the truth because they don't want their illusions destroyed.”

- Friedrich Nietzsche

2. “I'm not upset that you lied to me,

I'm upset that from now on I can't believe you.”

- Friedrich Nietzsche

3. “You have your way. I have my way.

As for the right way, the correct way, and the only way, it does not exist.”

- Friedrich Nietzsche

4. "To live is to suffer, to survive is to find some meaning in the suffering."

- Friedrich Nietzsche

15 Deep Philosophy Quotes of "Marcus Aurelius"

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1. "It never ceases to amaze me: we all love ourselves more than other people,

But care more about their opinions than our own."

- Marcus Aurelius

2. “The happiness of your life depends upon the quality of your thoughts.”

- Marcus Aurelius

3. "If someone can prove me wrong and show me my mistake in any thought or action, I shall gladly change.

I seek the truth, which never harmed anyone:

The harm is to persist in one's own self-deception and ignorance."

- Marcus Aurelius

4. "When you arise in the morning, think of what a precious privilege it is to be alive

to breathe, to think, to enjoy, to love."

- Marcus Aurelius