Gautam Baid > Quotes

“What many people see as a three-hundred-page book is often the accumulation of thousands of hours and decades of work. Where else can you get the entire life’s work of someone in the space of a few hours?”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Researchers published a study in 2014 that revealed that approximately a quarter of women and two-thirds of men chose electric shocks over spending time alone with their own thoughts.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“And in the words of Nassim Taleb, “Curiosity is antifragile, like an addiction; magnified by attempts to satisfy it.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Wealth, in fact, is what you don’t see. It’s the cars not purchased. The diamonds not bought. The renovations postponed, the clothes forgone and the first-class upgrade declined. It’s assets in the bank that haven’t yet been converted into the stuff you see. —Morgan Housel”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Rich people have small TVs and big libraries. Poor people have small libraries and big TVs. —Zig Ziglar”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“The reading of all good books is like a conversation with the finest minds of past centuries. —René Descartes”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Self-improvement is the ultimate form of investing in oneself. It requires devoting time, money, attention, and hard effort now for a payoff later, sometimes in the far distant future. A lot of people are unwilling to make this trade-off because they crave instant gratification and desire instant results. These short-term costs, when applied the right way along an axis of time, offer an exponential payoff when applied over a long life”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“Mark Twain, who said, “Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“The true scarce commodity of the near future will”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“We don't read other people's opinions. We want to get the facts and then think.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning

“Buffett’s secret to success is his intense focus—instead of doing more, he does less.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“This is how Warren Buffett, one of the most successful people in the business world, describes his typical day: “I just sit in my office and read all day.”2”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“A lesser-known (and one of my all-time favorite) equation from Albert Einstein rings true: “Ego = 1 / Knowledge. More the knowledge lesser the ego, lesser the knowledge more the ego.” The deeper one dives into any field, the more humble one generally becomes (also known as the Dunning-Kruger effect). By demonstrating intellectual humility and acknowledging what we don’t know, we place ourselves into a beneficial position to learn more—thus, the dawning of wisdom.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“The best cure for overconfidence in your beliefs is to constantly remind yourself that you have experienced less than a tiny fraction of a percent of what has happened in the world.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Look at stocks as part ownership of a business. 2. Look at Mr. Market—volatile stock price fluctuations—as your friend rather than your enemy. View risk as the possibility of permanent loss of purchasing power, and uncertainty as the unpredictability regarding the degree of variability in the possible range of outcomes. 3. Remember the three most important words in investing: “margin of safety.” 4. Evaluate any news item or event only in terms of its impact on (a) future interest rates and (b) the intrinsic value of the business, which is the discounted value of the cash that can be taken out during its remaining life, adjusted for the uncertainty around receiving those cash flows. 5. Think in terms of opportunity costs when evaluating new ideas and keep a very high hurdle rate for incoming investments. Be unreasonable. When you look at a business and get a strong desire from within saying, “I wish I owned this business,” that is the kind of business in which you should be investing. A great investment idea doesn’t need hours to analyze. More often than not, it is love at first sight. 6. Think probabilistically rather than deterministically, because the future is never certain and it is really a set of branching probability streams. At the same time, avoid the risk of ruin, when making decisions, by focusing on consequences rather than just on raw probabilities in isolation. Some risks are just not worth taking, whatever the potential upside may be. 7. Never underestimate the power of incentives in any given situation. 8. When making decisions, involve both the left side of your brain (logic, analysis, and math) and the right side (intuition, creativity, and emotions). 9. Engage in visual thinking, which helps us to better understand complex information, organize our thoughts, and improve our ability to think and communicate. 10. Invert, always invert. You can avoid a lot of pain by visualizing your life after you have lost a lot of money trading or speculating using derivatives or leverage. If the visuals unnerve you, don’t do anything that could get you remotely close to reaching such a situation. 11. Vicariously learn from others throughout life. Embrace everlasting humility to succeed in this endeavor. 12. Embrace the power of long-term compounding. All the great things in life come from compound interest.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Albert Einstein rings true: “Ego = 1 / Knowledge. More the knowledge lesser the ego, lesser the knowledge more the ego.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“The best things in life are not things. They are experiences.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“One should not blindly chase “buzzing stocks” or get swayed by exciting “stories,” “narratives,” or “futuristic” concepts, because these kinds of businesses usually have unproven track records or they lack profitability and cash flow.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Charlie Munger said that lifelong learning is paramount to long-term success. Without it, we won’t succeed, because we won’t get far based on what we already know.”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“What differentiates successful investors from mediocre ones is passion.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Buffett captured the superpower of incentives in its full essence when he said: “I could end the deficit in five minutes. You just pass a law that says that any time there’s a deficit of more than 3 percent of GDP, all sitting members of Congress are ineligible for re-election.”13 I have nothing to add.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“One day your life will flash before your eyes. Make sure it’s worth watching. —Gerard Way”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“Many people achieve success, but to sustain the same (and potentially build on it) over an entire lifetime requires humility, gratitude, and a constant learning mind-set.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“clamoring”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“All of the history of humankind is a short chapter in the history of biology. And all of biology is a short chapter in the history of the planet. And the planet is a short chapter in the history of the universe. —Will and Ariel Durant”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Your time is limited, so don’t waste it living someone else’s life.”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“Knowing the limits of your knowledge is the dawning of wisdom.”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“The only thing you can guarantee at somebody’s birth is his or her death; everything else is unpredictable.”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

“Nothing, nothing at all, matters as much as bringing the right people into your life. They will teach you everything you need to know. —Guy Spier”
― Gautam Baid, The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated

“Ravikant”
― Gautam Baid, Joys Of Compounding: The Passionate Pursuit of Lifelong Learning