Monthly Archives: December 2017

Keep it simple

Try to keep things simple. For example, find out what you aren’t good at and don’t do that. Or, from Warren Buffett, “Rule #1: Never lose money. Rule #2: Never forget rule #1.”

It boils down to trying to see the situation clearly and not making mistakes.

Believing that people use reasoning when making important decisions sometimes leads to disappointment. Here’s situation I read somewhere:

“If you play a slot machine long enough, eventually you’ll…what?” The whole group yelled out “WIN!” Well actually, everyone’s a loser in the long run, except for the casino.

They confused the benefits of persistence with the actual odds of succeeding.

It’s the same thing for folks playing the lottery, it’s a loser’s game made for people who’re bad at math.

Try to figure out if the game is rigged, and if you’re good, or not, at playing that game.