Book 4: The Heart of the Matter
In Book 4 of The Analects, we get to the core of everything Confucius taught. He talked about “humaneness.” It is a big word, but it basically means having a heart. It is the quality of being a decent human being.
In Book 4 of The Analects, we get to the core of everything Confucius taught. He talked about “humaneness.” It is a big word, but it basically means having a heart. It is the quality of being a decent human being.
In real estate, it is simple: No deals means no business.
And here is the big secret: You make money when you buy, not when you sell. Buying a property at a bargain price gives you options. If repairs cost more than you thought, you can still sell it. If the market dips, you have a safety net.
Book: Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition by John C. Bogle ISBN: 978-0-470-59748-4
If you’ve ever seen a Morningstar style box, you know what equity styles are. There’s a 3x3 grid. One axis is size: large-cap, mid-cap, small-cap. The other axis is style: growth, blend, value. Every stock fund gets placed in one of those nine boxes.
In Book 3 of The Analects, Confucius focuses on the “how” of life. He talked a lot about rituals and music. If that sounds like boring stuff for an old-fashioned person, hang on. For him, it was about finding your balance in a messy world.
Goals are like your personal GPS. They guide your every move, even when you are on autopilot.
When I started, I just wanted one property every year for five years. But I did five in my first month. So I had to think bigger. And that is why it is so important to write your goals down.
Book: Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition by John C. Bogle ISBN: 978-0-470-59748-4
This is where the book gets really good. Chapter 5 is about index funds. And if you know anything about John Bogle, you know this is his baby. He literally created the first one.
In Book 2 of The Analects, Confucius moves from talking about the individual to talking about how to lead. He believed that the best way to lead is by setting a good example.
The brain is a powerful thing. Once you put yours to work the right way, big things happen.
But mindset isn’t magic. Some people think if you just have positive thoughts, money will fall from the sky. It doesn’t work that way. You still have to do the work. I like to think of mindset as a mental tool. It helps you stay disciplined when things get boring or hard.
Book: Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition by John C. Bogle ISBN: 978-0-470-59748-4
Chapter 4 is where Bogle drops what might be the most counterintuitive truth in all of investing: more information does not lead to better results.
We are starting with Book 1 of The Analects. This section is all about the basics. It is like the “getting started” guide for being a decent human being. Confucius jumps right in with a classic quote about learning.