Here you will find good reads accumulated from web/internet.


Becoming Your Customer’s Best Friend

posted Jun 8, 2016, 2:32 AM by Chaitanya Patel   [ updated Jun 8, 2016, 2:32 AM ]

  1. Provide the best possible value to the customers, excellent quality products at the lowest possible prices.
  2. Pay good wages and provide good benefits, including health insurance to employees.
  3. Maintain honest business practices.
  4. Make money for investors.
Learning: 
  1. See the world through the eyes of the customer, 
  2. Make reasonable return on their capital
In this way and many others, the life of Sol Price reinforces the truth of Munger’s philosophy for living a more effective life: 

“Take a simple idea, and take it seriously.”

How to become Geniuse

posted Apr 8, 2016, 2:31 AM by Chaitanya Patel   [ updated Apr 8, 2016, 2:33 AM ]

“Most geniuses—especially those who lead others—prosper not by deconstructing intricate complexities but by exploiting unrecognized simplicities.” 

— Andy Benoit


“What the pupil must learn, if he learns anything at all, is that the world will do most of the work for you, provided you cooperate with it by identifying how it really works and aligning with those realities. If we do not let the world teach us, it teaches us a lesson.”

— Joseph Tussman

The best way to identify how the world really works is to find the general principles that line up with historically significant sample sizes — those that apply, in the words of Peter Kaufman, “across the geological time scale of human, organic, and inorganic history.”

Passion can trump Talent

posted Mar 31, 2016, 8:32 PM by Chaitanya Patel   [ updated Mar 31, 2016, 8:34 PM ]

The difference between someone doing something because they want to and not because they have to is huge.

Great leaders “are able to inspire people to act. Those who are able to inspire give people a sense of purpose or belonging that has little to do with any external incentive or benefit to be gained.” In short, they inspire people to acts because they want to, not because they were swayed with money or rewards. And people who are inspired to act have a deeply personal motivation for doing so and they endure inconveniences, personal suffering and setbacks.

Surfing

posted Mar 15, 2016, 11:38 PM by Chaitanya Patel   [ updated Mar 15, 2016, 11:38 PM ]

A surfer not only is carried by the wave, but it gives an exceptional forward speed to its rider, provided the surfer can get on to the wave at the right time and not get thrown off in between. The second most important thing required to ride a wave is to recognize that the a wave is approaching. Which means 90 percent of the times you would find a surfer lying on his surfing board and paddling slowly, waiting for the right wave.

A rising tide lifts all the boats. But it’s important that one keeps his or her boat ready and identifies the tide on time. Many a times the same rising tide finds some people off guard and instead of lifting, it drowns them. That’s competitive destruction.

“In a long life, you can expect to profit heavily from at least a few of those opportunities if you develop the wisdom and will to seize them. At any rate, surfing is a very powerful model.”

Every person is going to have a circle of competence. And it’s going to be very hard to advance that circle…So you have to figure out what your own aptitudes are. If you play games where other people have the aptitudes and you don’t, you’re going to lose. And that’s as close to certain as any prediction that you can make. You have to figure out where you’ve got an edge. And you’ve got to play within your own circle of competence.

Back of the Envelop calculations

posted Mar 15, 2016, 11:26 PM by Chaitanya Patel   [ updated Mar 15, 2016, 11:27 PM ]

John Maynard Keynes again – “It is better to be roughly right than precisely wrong.”

If somebody walks in this door and they weigh between 300 and 350 pounds, I don’t need to say they weigh 327 to say that they’re fat.

Multitasking

posted Mar 15, 2016, 11:25 PM by Chaitanya Patel   [ updated Mar 15, 2016, 11:30 PM ]

Doing Multitasking: Giving the World an Advantage it Shouldn’t Have

I think when you multi-task so much, you don’t have time to think about anything deeply. You’re giving the world an advantage you shouldn’t do. Practically everybody is drifting into that mistake.

Concentrating hard on something that is important is … I can’t succeed at all without doing it. I did not succeed in life by intelligence. I succeeded because I have a long attention span.

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