What are Principles?
According to Merriam-Webster's online dictionary a principle is:
Principles are the most fundamental pieces of truth. Adhering to principles is a proven way to reach success -- if the principles are sound and lead to the desired outcome of course. One example of a sound principle is honesty. Another is collaboration/teamwork. For a more detailed description of principles and how to apply them in life and work I suggest the book Principles by Ray Dalio.
Principles are often disregarded when emotions run high. Irrational exuberance itself is an example of a widespread loss of investing principles in a market. One underrated principle is to avoid re-inventing the wheel. If there is a problem in need of solving there is a good probability someone else in the world is thinking/working on the same issues. It makes sense to work together and build on the work done by those before us. This is the essence of science and the free software movement. To do otherwise (to work from scratch when it is unnecessary) is a waste of resources. Wasting resources makes society poorer. Do not contribute to making society poorer.
What are some of the principles you seek to apply to your own personal or investing?
One the principles that I seek to apply is 'listening'. Actually the principle would be 'sound judgement' and 'listening' could be an act required for that but I tend to treat 'listening' as a principle itself.
My reason for this is fairly simple. There is too much noise in this world and things that should be heard get lost in that noise. This in turn leads to do dissatisfaction in human beings. People need to be heard to know that they matter and I seek to be the listener.
There are other reasons as. Listening is an extremely good way to learn. It is the act of beginning of learning. The child speaks it's first words based on what it hears. Similarly one can learn all sorts of things just by opening one's ear.
That is a great principle. Listening is one of the hardest skills to master. It takes much more energy to listen intently than to speak. But you are right - you can learn much more.
That's one of the reasons that it became my priority. It is so difficult to stick to my guns sometimes. I can't claim that I have mastered the art of listening -more like still in the process.
Jordan Peterson talks about this a lot - especially in his book 12 rules for life. People will tell you a lot if we can only listen.
I've been introduced to the book Principles just recently and I'm looking forward to reading it.
For me, honesty is definitely one of the main principles I'm trying to follow. And I think I'm mostly successful at that, with a few exceptions here and there.
The principle I struggle with the most, but at the same time value the most, is integrity. In my eyes, people with high integrity score the highest.
I think a person need setting goals, following through and achieving them.
Follow these success principles to not only find more opportunities open up in your life but to find greater security as well.
One of the most important principles is not to believe information without looking for other sources and to try to make up your mind ... We are drowning in often conflicting information and it is important to forge its own opinion to avoid handling ...
Agreed.
I agree with most of the commentaries about their principles. They are sound and common-sense. My basic principle is what is called "The Rule of Gold". I don't do to the others what I don't want the others to do to me. It is very generic, but it applies to almost all human interactions.
I have heard that referred to as the Silver Rule. Contrasted with the Golden Rule (as I learned it) "Do unto others as you would have them do unto you".
The rule you described (whatever it is called) is better in my opinion.
An over-arching principle for success and satisfaction for every entrepreneur is respect – for yourself, and in business respect for every customer, investor, and employee. Another generic attribute close behind in value is persistence. No amount of talent or genius can take the place of persistence.
I agree. Self-respect is a pre-requisite for dealing with other people in a healthy/productive way.
I think investing in bitcoin is like investing in securities. For the past 7-8 years, investors have got a lot of returns by investing in bitcoin, as no other investment was recently receivedIf anyone used to invest only 5 to 6 thousand taka (as our country's money) in Bitcoin 7-8 years ago, then the money would now have been 500-600 crore taka. So I think investing in Bitcoin is a good way. Although it is not possible for all the countries invested in this and difficulties (for some conties). It was a very good question @john-robert.
in person, I use principles, will not expect to man, because hopes will make a disappointment and in investment, I am more concerned with patience when the action I will do, eliminate emotions for unstable prices.
Thanks @john-robert
Good post @john-robert, I like your post and I want to share your post @john-robert , thanks you
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