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Wednesday, October 7, 2015

Living Your Life with an Inner Score Card in a Time of Technology and Social Media

In this time of Social Media and massive sharing of information about people, events and what not.

We think the tendency to value ones self based on the opinion/view of others or comparing ones life relative to the life of others is of an increasing trend specially to the younger generations, simply because the infrastructure in w/c we spend our daily lives (internet, facebook, instagram, twitter etc.) has evolved to result in to such tendencies.

Now we are not here to complain against technology and the internet as we believe that it actually brings a lot of value to peoples lives and increases productivity if used properly. We just want to kinda manage the "risks" so to speak - just like in investing and trading let's just let the upside run and manage the downside risks.

So we're just going to share to you Warren Buffet's advice/perspective on how to live/view ones life.

“It’s very important,” said Buffett, “to always live your life by an inner scorecard, not an outer scorecard.”

What does that mean?

Buffett illustrated this by asking:

“If the world couldn't see your results, would you rather be thought of as the world's greatest [investor]* but in reality have the world's worst record?—or would you prefer to be thought of as the world's worst [investor]* when in reality you were actually the best?”

Those who answer the latter have an inner scorecard and to those who answer the first have an outer scorecard.

So knowing this perspective, which scorecard would you rather have? Which life would you rather live?

 *Change this with what you do, or what applies to your life. i.e. Trader, Manager, Photographer, Writer, Engineer, Nurse, Doctor, Businessman, Lawyer, Accountant, Student, Husband, Wife, Programmer, Salesman, Teacher, Police, Politician, Scientist, Leader, Singer, Dancer...  you name it.

Filipino Investor

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