A Quote by Steve Jurvetson
I do lament how many investors focus on all the short-term sugar buzz of some marginal improvement in something - nothing history books are ever going to be written about. In many cases, these are quick and easy ways to make money.
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You better make yourself acquainted to what the requirements are, what the value of money is all about and how you create a long-term survival, and in many cases it has to do with how you handle finances.
The company has been clear from the start that we try to serve customers long-term, and long-term investors are going to be more excited about Amazon than short-term investors.
Short-term performance envy causes many of the shortcomings that lock most investors into a perpetual cycle of underachievement. Watch your competitors not out of jealousy but out of respect and focus your efforts not on replicating others' portfolios but on looking for opportunities where they are not. The only way for investors to significantly outperform is to periodically stand far apart from the crowd, something few are willing, or able, to do.
I haven't the faintest idea what my royalties are. I haven't the faintest idea how many copies of books sold, or how many books that I've written. I could look these things up; I have no interest in them. I don't know how much money I have. There are a lot of things I just don't care about.
I have written about 240 books and some short stories, too. It's taken me many years.
In the stock market (as in much of life), the beginning of wisdom is admitting your ignorance. One of the many things you cannot know about stocks is exactly when they will up or go down. Over the long term, stocks generally rise at a nice pace. History shows they double in value every seven years or so. But in the short term, stocks are just plain wild. Over periods of days, weeks and months, no one has any idea what they will do. Still, nearly all investors think they are smart enough to divine such short-term movements. This hubris frequently gets them into trouble.
People look at me in many ways. They've said, 'The guy has no regard for money.' That is not true. I have had regard for money. It depends on who's saying that. Some people worship money as something you've got to have piled up in a big pile somewhere. I've only thought about money in one way, and that is to do something with it. I don't think there's a thing I own that I will ever get the benefit of except through doing things with it. I don't even want the dividends from the stock in the studio, because the government's going to take it away. I'd rather have that in (the company) working.
If the short-term decisions you make damage the long term, you should resist those. But there are many short-term decisions that you need to make to be a successful manager.
Have you any notion how many books are written about women in the course of one year? Have you any notion how many are written by men? Are you aware that you are, perhaps, the most discussed animal in the universe?
The 1969 experience has been a rude awakening for many hedge-fund investors and has left some of them with strong reservations about the whole concept. For the first time in their relatively short history, the funds are not growing: in fact, some have suffered large withdrawals of capital, and a few have actually folded.
People that are that good at motivating and inspiring are rare. In many cases, you wish it was parents, and in many cases it is, but in a lot of cases it happens outside the family as well - or, in some cases, only.
In many cases, our need to wonder about or be told what God wants in a certain situation is nothing short of a clear indication of how little we are engaged in His work.
There are so many people, so many artists, so many magazines, so many theater companies, so many people trying to raise money for so many things that it's easy to look around and just feel powerless or helpless, because even if you have some resources, you can't help everybody.
I love to read books that focus on parenting topics because there are so many different ways to do things. I find these books offer a lot of great opinions on many different subjects.
Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass. That's why most people lose money as individual investors or traders because they're not focusing on losing money. They need to focus on the money that they have at risk and how much capital is at risk in any single investment they have. If everyone spent 90 percent of their time on that, not 90 percent of the time on pie-in-the-sky ideas on how much money they're going to make, then they will be incredibly successful investors.
The finance world in general is very, very complicated and there are so many different things that need to be evaluated, but I think at the end of the day, the most important thing is how you want to invest your money - if you want to be a short-term, mid-term or long-term investor.
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