Today, I had lunch with a very good friend and we discussed his asset allocation issues. His original startup was acquired by ByteDance, and during its peak period, bankers proactively offered to buy his shares, but he missed the opportunity due to being busy with other matters. Now, he is asking the banker for help in selling some of his stocks, but there has been a significant loss in price. He understands the principles of asset allocation, such as risk diversification, but psychologically, he always believes that the future will be better and is not in a hurry to take action.
I suddenly remembered that in 2018, I attended an entrepreneurship camp at Stanford University, where most of my classmates were CEOs of global startups. I noticed a strange phenomenon: it seemed that only Chinese CEOs firmly believed that tomorrow would always be better than today; entrepreneurs from other countries did not have this illusion. Our generation's experiences growing up domestically have proven that tomorrow offers more opportunities and higher incomes; until the pandemic occurred, which brought the world back to the fluctuating track it should have had all along. However, many people are unwilling to accept the harshness of reality or only want to accept the world and rules they imagine.
"The higher the Tao, the taller the devil." This phrase means that as one's practice deepens, the obstacles become stronger. Buddhism warns practitioners to be vigilant against external temptations, and after reaching a certain stage of practice, these obstacles may destroy the results of their practice. Therefore, the deeper one goes into practice, the more careful and cautious one needs to be, avoiding being influenced by external temptations. One should let life return to its essence, understand the true nature of things, and respect the laws of things.
In company operations, controlling fixed costs (such as rent) is an important principle. If performance is good, variable costs (such as employee bonuses) can be appropriately increased. In personal life, one should also control fixed expenses; if you want to reward yourself, you can temporarily increase floating costs. Fixed costs are difficult to reduce once they increase. It's easy to go from frugality to luxury, but hard to go from luxury back to frugality.
Do not let desires and inner demons control you.
Finally, I'd like to share the 13 points from "The Autobiography of Franklin" recommended by Uncle Peng. Although I can't achieve any of them, I still use them to motivate myself:
These virtues and their precepts are as follows:
TEMPERANCE. Eat not to dullness; drink not to elevation.
Temperance: Eat not to dullness, drink not to elevation.
SILENCE. Speak not but what may benefit others or yourself; avoid trifling conversation.
Silence: Speak not but what may benefit others or yourself; avoid trifling conversation.
ORDER. Let all your things have their places; let each part of your business have its time.
Order: Let all your things have their places; let each part of your business have its time.
RESOLUTION. Resolve to perform what you ought; perform without fail what you resolve.
Resolution: Resolve to perform what you ought; perform without fail what you resolve.
FRUGALITY. Make no expense but to do good to others or yourself; i.e., waste nothing.
Frugality: Make no expense but to do good to others or yourself; i.e., waste nothing.
INDUSTRY. Lose no time; be always employ’d in something useful; cut off all unnecessary actions.
Industry: Lose no time; be always employed in something useful; cut off all unnecessary actions.
SINCERITY. Use no hurtful deceit; think innocently and justly, and, if you speak, speak accordingly.
Sincerity: Use no hurtful deceit; think innocently and justly, and, if you speak, speak accordingly.
JUSTICE. Wrong none by doing injuries, or omitting the benefits that are your duty.
Justice: Wrong none by doing injuries, or omitting the benefits that are your duty.
MODERATION. Avoid extreams; forbear resenting injuries so much as you think they deserve.
Moderation: Avoid extremes. Forgive injuries so received.
CLEANLINESS. Tolerate no uncleanliness in body, cloaths, or habitation.
Cleanliness: Tolerate no uncleanliness in body, clothes, or habitation.
TRANQUILLITY. Be not disturbed at trifles, or at accidents common or unavoidable.
Tranquility: Be not disturbed at trifles, or at accidents common or unavoidable.
CHASTITY. Rarely use venery but for health or offspring, never to dulness, weakness, or the injury of your own or another’s peace or reputation.
Chastity: Rarely use venery but for health or offspring; never to dullness, weakness, or the injury of your own or another's peace or reputation.
HUMILITY. Imitate Jesus and Socrates.
Humility: Imitate Jesus and Socrates.