Author Topic: 'An Optometrist Who Beat The Odds To Become A Billionaire'  (Read 9615 times)

LC

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Re: 'An Optometrist Who Beat The Odds To Become A Billionaire'
« Reply #120 on: March 12, 2019, 01:20:42 PM »
How is this topic still going?

The lessons here seem pretty obvious:
-Be really good at your job. This dude was raking in cash from his dental clinics.
-Buy and hold works if you buy right.

Put the two together and you have a chance at something really special.
"Lethargy bordering on sloth remains the cornerstone of our investment style."
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Cardboard

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Re: 'An Optometrist Who Beat The Odds To Become A Billionaire'
« Reply #121 on: March 12, 2019, 02:50:16 PM »
If you want to teach us something LC maybe you should get your act right:

"This dude was raking in cash from his dental clinics."

'An Optometrist Who Beat The Odds To Become A Billionaire'


LC

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Re: 'An Optometrist Who Beat The Odds To Become A Billionaire'
« Reply #122 on: March 12, 2019, 04:55:31 PM »
Thanks for your elucidating correction.
"Lethargy bordering on sloth remains the cornerstone of our investment style."
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John Hjorth

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Re: 'An Optometrist Who Beat The Odds To Become A Billionaire'
« Reply #123 on: March 15, 2019, 09:09:30 AM »
An old post - posted a bit more than four years ago - by Kraven - has come to my mind related to this topic:

I would say that no one ever arrives.  There is always more to learn.  When you think you know it all that's when you get your head handed to you.  It's like life.  When you're 18 you know everything.  When you're older, you realize that your 18 year old self was full of crap and you know nothing.  Try to learn something every day and get better.  That journey never ends. 

I don't think one can have a goal of beating the market.  That's a number you can't control.  All you can control is your process and your own thinking.  If you put up returns you feel are satisfactory, then you've accomplished something.  Of course the meaning of satisfactory may include a look to the market returns, but that's after the fact.

To comment on another point made in the thread about looking back at 90 to see if one beat the market, clearly that is tongue in cheek.  While determinations of success must encompass longer than a one year period, perhaps even a 3 year period, there has to be some kind of realistic time frame in which to reach the conclusion about whether returns are satisfactory.  I would posit that 3-5 years is long enough to make that determination.  There has to be a balance between the view of value investing as the hanging of beautiful art in a museum and real life. What good does it do anyone to say on their death bed "well, I guess in the final accounting, I lived a good life, had wonderful children and a beautiful wife . . .  and the final numbers are in, and I guess my returns from investing were good after all!"
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai