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Jason trice

RBI Podcast Summaries

3y ago

Disciple | Husband | Father | Writer | Investor | Here to learn and encourage. Grateful our paths have crossed🙏🏻 https://enroll.ship30for30.com

1. "A fool, a fool, I met a fool in the forest, A Motley Fool.

A miserable world! As I do live by food, I met a fool,

Who laid him down and basked him in the sun, and railed on Lady Fortune in good terms, In good set terms, and yet a motley fool.

'Good morrow, fool,' quoth I. 'No, sir,' quoth he, 'Call me not 'fool' till heaven hath sent me fortune.'" - William Shakespeare, As You Like It

Fortune can take many forms. It's not always monetary. The Motley Fool aims to help others monetarily but also provides other forms of fortune. It provides community, education, independence, etc. The best part is that they do this in a 'Foolish' manner, having fun along the way.

2. "Whatever your holding period, double it, and you'll be a more successful investor." - Tom Gardner

This is more about mindset than a specific timeframe. Successful investors are patient and allow businesses time to grow and mature. They forgo immediate gratification understanding the longer they hold, the greater the return. It's also an excellent way to lower your tax burden.

3. "I've been a has-been, a once-was, a used-to-be, but Jethro will always be an is."- Max Baer Jr. (Actor who portrayed Jethro on The Beverly Hillbillies)

While Max may not have meant it this way, it's a wonderful reflection on the power of a brand. With thousands of choices every day, you want to invest in the "Is" brands. These are the ones you purchase without thinking. Ex. Starbucks

You can have great success investing in "Is" brands.

4. "It helps to base your strategy on things that won't change. There's a question that comes up very commonly, "What's going to change in the next 5-10 years? I very rarely get asked, " What's not going to change in the next 5-10 years? At Amazon, we're always trying to figure that out because you can really spin up flywheels around those things." -Jeff Bezos.

We are constantly trying to come up with the next great thing. We want to capitalize on a new trend, a new strategy, or a new product. This contrarian view causes us to think about the things that won't change. Bezos realized this early on and doubled down on providing convenience for customers at Amazon. (More selection, quicker delivery, one-click checkout, etc.)

5. "The greater the island of knowledge, the longer the coastline of mystery." - Sir William Temple

This quote reminds us of the value of intellectual curiosity. The more knowledge we have, the clearer we think things will become. In reality, knowledge reveals a lack of knowledge. I love this quote. It inspires curiosity and humility.

"The more you know, the more you know you don't know." - DG

References: Great Quotes, Vol. 6: Call Me Not Fool Till Heaven Hath Sent Me Fortune

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