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Frugality implies due diligence, what are the odds when a billionaire spends without due diligence and only because he has the money?
Is this thread asking about the ability to waste money?
A disciplined investor will always run the numbers and if interested in maximum learning will approach a "Zero Based Spending" policy. Reducing spending is hard, spending is easy. The very essence of attaining billionaire status implies accelerating learning not compounding waste. If I own 22 rigs and have built them up over time with bartering, dealing, etc., they still require maintenance, organization, accounting, and mental energy. If I own an equal amount of properties the time demanded is even greater. Therefore what you choose to own must be highly efficient and complement every other asset in your portfolio. Each addition is no longer separate, it is a part of something bigger which a 3rd party might not see the logic. If I even have the capacity to own 22 rigs this implies the space and shop to even maintain them. A story starts to develop.
There is also an inverse relationship between time and money when one gets older. Time becomes more valuable with age whereas time is plentiful in youth. Understanding time early gives you a head start.
If there are a 1000 billionaries on the planet are they any more efficient than you who acquires an asset with zero based spending? I think not. Have you ever seen an asset that someone paid $100,000 for that you would not pay one tenth of that even if you had a need for it? Time creates value. Everyone can see intrinsic value.
Bigness loses quality relative to how far away one is from the assets, what you prioritize will be closer to you and more valuable. Therefore quality will be close to you and volume will be further away. Anything of quality takes time.
Lots of questions, does paying off debt increase the value of an asset, or does the leverage make it more valuable? Managing debt takes time, frugality is a lifestyle of preserving time. Where is the balance?
Because of the economy we were at the beach this weekend looking at real estate as prices have dropped dramatically. The beach being a destination stop and a semi-retirement community, it is in somewhat limited supply. Looked at 34 brochures and prioritized at least 3 properties, all dont wanters at very good starting prices. However after taking a deep breath and looking deeper we noticed large hotels going into decay indicating a drop off of previous bustling activity. The trend is downward as with the rest of the economy and one could make a very good deal with limited risk but the question is timing. Time is on my side and patience is on my side even though the pull is great to make a deal. Hopefully this is wisdom speaking.
On the same trip I was pulled over by a young cop (for the thousandth time) and he asked for license, insurance proof, etc, he then asked me for the registration which I did not have on my person and the van was full with food, ice chests, clothes, etc. I had seen him while making a right hand turn and he had nothing on me. I mentioned to him that I probably didn't have the registration as it is reoccuring paperwork and I had 22 rigs and that why doesnt he just look it up on his computer. His world is he expects that everyone would think like him and the car they were driving were their next of kin. In my world nothing could be further from the truth and their paperwork requirement is obsolete and a waste of my time. After all the questions he asks if I have any weapons or knives in the van even with my classy lady sitting in the passenger seat. Not only is this an abuse of time and a totally worthless stop that I have witnessed many, many times, this has a negative effect on the community. In my youth stops never bothered me as I would joke around with the officer, now the whole culture of oversteer is truely wasteful (more bureaucratic regulations). Waste is all around and linked to every investment decision no matter how suttle.
Frugality involves friction and friction is necessary for production. Spending money without due diligence and planning is easy but will create little value.
Time is money and money has value. When you exchange it you should get more value in return no matter what your net worth. Its just that a billionaire will probably be more adept at it.
Is this thread asking about the ability to waste money?
A disciplined investor will always run the numbers and if interested in maximum learning will approach a "Zero Based Spending" policy. Reducing spending is hard, spending is easy. The very essence of attaining billionaire status implies accelerating learning not compounding waste. If I own 22 rigs and have built them up over time with bartering, dealing, etc., they still require maintenance, organization, accounting, and mental energy. If I own an equal amount of properties the time demanded is even greater. Therefore what you choose to own must be highly efficient and complement every other asset in your portfolio. Each addition is no longer separate, it is a part of something bigger which a 3rd party might not see the logic. If I even have the capacity to own 22 rigs this implies the space and shop to even maintain them. A story starts to develop.
There is also an inverse relationship between time and money when one gets older. Time becomes more valuable with age whereas time is plentiful in youth. Understanding time early gives you a head start.
If there are a 1000 billionaries on the planet are they any more efficient than you who acquires an asset with zero based spending? I think not. Have you ever seen an asset that someone paid $100,000 for that you would not pay one tenth of that even if you had a need for it? Time creates value. Everyone can see intrinsic value.
Bigness loses quality relative to how far away one is from the assets, what you prioritize will be closer to you and more valuable. Therefore quality will be close to you and volume will be further away. Anything of quality takes time.
Lots of questions, does paying off debt increase the value of an asset, or does the leverage make it more valuable? Managing debt takes time, frugality is a lifestyle of preserving time. Where is the balance?
Because of the economy we were at the beach this weekend looking at real estate as prices have dropped dramatically. The beach being a destination stop and a semi-retirement community, it is in somewhat limited supply. Looked at 34 brochures and prioritized at least 3 properties, all dont wanters at very good starting prices. However after taking a deep breath and looking deeper we noticed large hotels going into decay indicating a drop off of previous bustling activity. The trend is downward as with the rest of the economy and one could make a very good deal with limited risk but the question is timing. Time is on my side and patience is on my side even though the pull is great to make a deal. Hopefully this is wisdom speaking.
On the same trip I was pulled over by a young cop (for the thousandth time) and he asked for license, insurance proof, etc, he then asked me for the registration which I did not have on my person and the van was full with food, ice chests, clothes, etc. I had seen him while making a right hand turn and he had nothing on me. I mentioned to him that I probably didn't have the registration as it is reoccuring paperwork and I had 22 rigs and that why doesnt he just look it up on his computer. His world is he expects that everyone would think like him and the car they were driving were their next of kin. In my world nothing could be further from the truth and their paperwork requirement is obsolete and a waste of my time. After all the questions he asks if I have any weapons or knives in the van even with my classy lady sitting in the passenger seat. Not only is this an abuse of time and a totally worthless stop that I have witnessed many, many times, this has a negative effect on the community. In my youth stops never bothered me as I would joke around with the officer, now the whole culture of oversteer is truely wasteful (more bureaucratic regulations). Waste is all around and linked to every investment decision no matter how suttle.
Frugality involves friction and friction is necessary for production. Spending money without due diligence and planning is easy but will create little value.
Time is money and money has value. When you exchange it you should get more value in return no matter what your net worth. Its just that a billionaire will probably be more adept at it.
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