Sunday, August 28, 2011

A Father's Lessons for Life and Investing

Todd Sullivan pointed us to two excerpts from A Gift to My Children: A Father's Lessons for Life and Investing that pertain to life and investing.

on decision making:
But, being new to Wall Street, I tended to assume that my more senior colleagues knew more than I did, and so I attributed too much significance to their opinions. You know what happened? Each of those investments ended in failure. Eventually I stopped allowing myself to be influenced by others and began doing the work myself and making my own decisions. Talk about an epiphany. It took me until I was almost thirty years old to realize this—and also to see that it's never too late for a person to change his approach both to business and to life.

on social proof
If people around you try to discourage you from taking a certain course of action, or ridicule your ideas, take that as a positive sign. Sure it can be difficult not to run with the herd, but the truth is that most long-term success stories are written by folks who've done exactly that.

Purchase A Gift to My Children: A Father's Lessons for Life and Investing