Just want to share an extract in the book "Super Stocks".
Kenneth Fisher shared his way of long-term investing in this book.
In a chapter though, he briefly share his perspective on TIME, the most valuable asset in this world
Also today is GE14, I have a few planned blog posts that I have not gotten my ass down to write
Mainly because I am still lazy
Those posts include my trip with Uni friends to Penang, my trip with my mum to Penang lol for a job interview, GE14, and also maybe my second visit to Deric's house
Post about my first step in working world may arrive only after I start working a while, or maybe before I even start working because I am already freaking excited about it !!
-----------------------------我是分割线-----------------------------------
I would like to introduce a concept which may seem tangential. It has helped me a lot. Time is scarce. There is never enough to do everything I'd like. I need all the help possible determining where to best spend my time.
How long is a day in blocks of time I can use ?
There are 1,440 minutes per day. If you sleep eight hours a day, you are awake about 1,000 minutes.
If you spend an hour on something, you have devoted 6% of your day to it.
Thirty minutes is 3% of your day. Twenty minutes is 2%, and two hours - 120 minutes - is 12% of your day.
When people ask me to lunch, I wonder if seeing them is worth 12% of my day. It may be or may not be. Perhaps we can chat on the phone for 20 minutes instead (2% of my day).
If so, I have saved 10% of my day for more productive efforts.
If business struggle for small savings, why shouldn't I ? I don't have blocks of time I can afford to waste. Do I have two hours to waste in the library on interesting companies and ideas I won't pursue further ? Not if it costs me 12% of my day. Do I have two hours to spend in the library leaning about a business I will want to invest in ? Of course ! I will do whatever I can to save myself time in the screening process. What I want to know is what I need to decide if a stock warrants more time.
Kenneth Fisher shared his way of long-term investing in this book.
In a chapter though, he briefly share his perspective on TIME, the most valuable asset in this world
Also today is GE14, I have a few planned blog posts that I have not gotten my ass down to write
Mainly because I am still lazy
Those posts include my trip with Uni friends to Penang, my trip with my mum to Penang lol for a job interview, GE14, and also maybe my second visit to Deric's house
Post about my first step in working world may arrive only after I start working a while, or maybe before I even start working because I am already freaking excited about it !!
-----------------------------我是分割线-----------------------------------
I would like to introduce a concept which may seem tangential. It has helped me a lot. Time is scarce. There is never enough to do everything I'd like. I need all the help possible determining where to best spend my time.
How long is a day in blocks of time I can use ?
There are 1,440 minutes per day. If you sleep eight hours a day, you are awake about 1,000 minutes.
If you spend an hour on something, you have devoted 6% of your day to it.
Thirty minutes is 3% of your day. Twenty minutes is 2%, and two hours - 120 minutes - is 12% of your day.
When people ask me to lunch, I wonder if seeing them is worth 12% of my day. It may be or may not be. Perhaps we can chat on the phone for 20 minutes instead (2% of my day).
If so, I have saved 10% of my day for more productive efforts.
If business struggle for small savings, why shouldn't I ? I don't have blocks of time I can afford to waste. Do I have two hours to waste in the library on interesting companies and ideas I won't pursue further ? Not if it costs me 12% of my day. Do I have two hours to spend in the library leaning about a business I will want to invest in ? Of course ! I will do whatever I can to save myself time in the screening process. What I want to know is what I need to decide if a stock warrants more time.
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