Wednesday, 26 March 2014

Value Investing Conference - Investment ideas presented in detail



First met him a few months ago so the you know I said that's great and he's like okay you know we're up to out of a hundred thousand I'm so wanna things he's trying to do is with the new administration is trying not yet have a change in policy to literally airlift out not just out of Iraq but at the neighboring countries qualifying refugees not a lift and directly in the united states they have to be processed in screen at center but airlift them to Guam where they can live and be processed make sure we're not letting anyone is dangerous to the country or anything like that arm but some so we're crossing our fingers and hope hopeful that the new administration will do they will do the right thing here soon let me just get back to why this is why I would argue that this is self interest and I hope it might nom encourage and inspire others one at one of the reasons that I sort of a lot about all these various activities is to tryin robe others into my activities arm it's not because I will not argue to you that it has made me more successful professionally there somehow.



The business contacts and there are business contacts and networking if you're involved in philanthropic stuff that can help your business but net spending half my time on these various activities rather than reading more annual report to center has no doubt cost me some to grieve investment returns and I would probably be wealthier today are my bank account would be larger my fun would be larger if I had allocated all of my time toward are my primary business at managing money coming for those you who later here Alice Schroeder talk about Warren Buffett in her book about magnificent book about of it snowball arm for sixty odd years he has been investing machine ominous spent you know to hours a day doing absolutely nothing but focus on investing in that combined with a lot of other factors and his is a the fact that he's a genius and so forth but his the fact that he's been so single-mindedly focused to investing is translated into his incredible track record being the world's richest man.

I will never repeat that are in part because the way I've chosen to spend my time and that's okay because what I would argue is the self-interest I'm talking about is na financial self-interest but rather I'm really happy arm and if you think about it once you re every study ever done a show once you reach a certain level of happiness I'm sorry certain level income and you can take care of your basic needs people who make are no hundred thousand dollars a year whatever new measure their happiness and then you measure people who have who make millions and millions or even be who billionaire's new measure their happiness actually billionaires are no happier then and people who are sort of you know reasonably well often don't have to really worry about money arm and trust me I know some really unhappy billionaires are so I guess so arm if not nom you know so what's the self-interest is that if you if you study the research on happiness and you say it's self-interested to want to be happy and to go to sleep feel good about yourself every night crime well if not money if that's not gonna get you there what years and the answers as I'll leave you with a book recommendation are Victor frankel are man's search for meaning which I give Kenny credit for he's the one who steered me the book it's a very quick read Viktor Frankl is an Auschwitz survivor.

The first half the book talks about his experiences and how he survived house which in turn out the people who survived and didn't survive in part was just randomness but in part was the people who gave up versus the people stayed mentally strong and I he ended up arm having a career after the war up counseling people and doing a lot of research on happiness money founders is that would determine happiness once she reached a certain income level was whether you felt like your life had meaning and purpose on that it wasn't just mine was pursued have your own our self-interest to making money and there are a lot of different ways people can find meaning and purpose often it's been very involved with your family raising kids et cetera arm but I would argue that that's people who spend time and pick in the area that the really passion about to make a difference in the world.

Somehow make a difference in one other person's life I would argue that the people in this room can probably aim higher that you can you think about leverage not the leverage in the financial sense that we've been talking about today but think about you know I've been involved with starting organizations are from Teach for America nineteen years ago coming at a college or serve employee number two after Wendy Kopp starting that to starting your whole handful of organizations like people in this room have the entrepreneurial ability the access to capital cetera to think bigger then I just being a Big Brother Big Sister for example making a difference in one person's life by tie-dyed I'd encourage you and inspire you to take advantage for the gifts the that all of us in this room have arm to not to make a bigger difference arm so you know I guess with that I'll alarm all stop and again thank a thank you for this are tremendous Award Dinner and hope that my example I would encourage you to be quite as extreme as I am hi it can be very stressful but pick one or two areas and really try make a difference in the world and you're not and you will it is in your self-interest as you feel very good about yourself so thank you thank you and you know when I add my congratulations as well and now I'm wanna take this opportunity to make sure we mention that the Print Center Foundation is a primary sponsor the conference so we appreciate that

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