Lessons From the Field #31:
Principles Do Not Lie
At times it is hard to make sense of what is going on in the world and how to deal with it all. As you watch today’s 55 seconds, you may want to ask yourself:
Things are not always as they appear. It never hurts to revisit the principles you know are true and can depend on when looking for true clarity.
When the world seems to be crumbling around you, where can you turn?
Principles, like gravity, are irrefutable laws based on fundamental truths.
Family fiduciaries who succeed make their decisions according to proven principles rather than magical thinking or gut feelings.
A scientist we know always verifies his investment decisions with what he knows is truth…does the company make money? Is their product an essential necessity or a discretionary luxury? Are there more people than available housing in the area?
Principles cannot lie…they are what they are…you can depend on them.
Warren Buffet’s value approach is principle based…so is the habit of spending less than you make…they are constant truths that lead to wealth if you follow them.
What principles do you depend on?