A Quote by Michael Covel
Do not let emotions fluctuate with the up and down of your capital.
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Your emotions are meant to fluctuate, just like your blood pressure is meant to fluctuate. It's a system that's supposed to move back and forth, between happy and unhappy. That's how the system guides you through the world.
Don't shut down your emotions. Embrace them. Your emotions are your internal compass telling you whether or not you are on track. Use them to help cultivate your passions or motivate you to change situations and circumstances that hold you back from achieving your goals.
Which would you rather have, capital lined up on your borders, trying to get into your country or trying to get out of your country? We are the capital magnet of this planet and we are the savior for not only people, for not only freedom, but also for capital.
If, for example, each of us had the same share of capital in the national total capital, then if the share of capital goes up it's not a problem, because you get as much as I do. The problem is that capital in capitalist countries is very heavily concentrated, especially financial capital. So then if the share of income from that source goes up, that actually exacerbates inequality.
Negative emotions will challenge your grit every step of the way. While it's impossible not to feel your emotions, it's completely under your power to manage them effectively and to keep yourself in a position of control. When you let your emotions overtake your ability to think clearly, it's easy to lose your resolve.
Be aware that what you think, to a large extent, creates the emotions that you feel. See the link between your thinking and your emotions. Rather than being your thoughts and emotions, be the awareness behind them.
Strive for excellence in your calling, but as a subsidiary to this: Do not fail to enrich your whole capital as man. To be a giant, and not a dwarf in your profession, you must always be growing. The man that has ceased to go up intellectually has begun to go down.
Kids don't say, "Wait." They say, "Wait up, hey wait up!" Because when you're little, your life is up. The future is up. Everything you want is up. "Hold up. Shut up! Mum, I'll clean up. Let me stay up!" Parents, of course, are just the opposite. Everything is down. "Just calm down. Slow down. Come down here! Sit down. Put... that... down."
Empowering innovations require long-term investments, which tie up capital for years and years. So companies are using capital to create more capital, and consequently, the world is awash in capital, but the innovations we need to advance aren't there.
In some ways you still have to buy your freedom, but that's because you live in a social structure that's organized around capital, and capital does equate with a certain kind of freedom, especially if you can start to generate capital on your own.
For every company that sees the value of their capital go up, there's another company that has been disrupted, and the value of their capital gets marked down because it's not going to compete in the same way.
In real estate you can avoid ever having to pay a capital gains tax, decade after decade, century after century. When you sell a property and make a capital gain, you simply turn around and buy a new property. The gain is not taxed. It's called "preserving your capital investment" - which goes up and up in value with each transaction.
At the worst possible moment, when your fund is down because cheap things have gotten cheaper, you need to have capital, to have clients who will actually love the phone call and-most of the time, if not all the time-add, rather than subtract, capital.
You can feel up, you can feel down, and you have to keep your emotions kind of somewhere to be focused on the next ball.
A tax on capital is self-defeating, in that it slows down capital accumulation, investment and economic growth.
It is no wonder that bank capital is regulated. When borrowing and lending is profitable, it is tempting for banks to scale up their operations and to borrow and lend too much in relation to their capital, in effect reducing the effectiveness of the potential capital cushion.
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