The difference between the ...
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Being self-made is a state of mind, and once you put that mentality to work, your success will come.
Dave East
A lot of people change for good. Some people just fall off. Just trying to progress in anything, no matter what you're doing, I feel like any progression you make... some people aren't gonna be around you that were around you.
Dave East
There are no secrets to success. It is the result of preparation, hard work, and learning from failure.
You have to have the service mentality in the sense that you subjugate your own ego, and you subjugate a large part of your own life to really helping other people, being successful on their behalf.
Herb Kelleher
Success consists of going from failure to failure without loss of enthusiasm.
Quotes from the same author
One of the dangers about net-net investing is that if you buy a net-net that begins to lose money your net-net goes down and your capacity to be able to make a profit becomes less secure. So the trick is not necessarily to predict what the earnings are going to be but to have a clear conviction that the company isn't going bust and that your margin of safety will remain intact over time.
Peter Cundill
To put money into anything, anywhere, provided that the downside is measurable and acceptable and the chances of a good profit appear to be better than 50%. I will not take gambles, but it is part of my job description to be ready to take very carefully calculated risks.
Peter Cundill
I suspect that my thinking is an eclectic mix, not pure net-net because I couldn’t do it anyway so you have to have a new something to hang your hat on. But the framework stays the same.
Peter Cundill
To my knowledge there are no good records that have been built by institutions run by committee. In almost all cases the great records are the product of individuals, perhaps working together, but always within a clearly defined framework. Their names are on the door and they are quite visible to the investing public. In reality outstanding records are made by dictators, hopefully benevolent, but nonetheless dictators.
Peter Cundill
The price earning multiple must be less than ten or the inverse of the long term corporate bond rate, whichever is the less.
Peter Cundill
