What Charlie Munger taught Warren Buffet

I just read in the Globe and Mail that Charlie Munger, Warren Buffet's business partner, passed away just short of his 100th birthday. I will miss his words of wisdom but the good thing is that we can read lots of articles and books that have documented his genius.

The article in the newspaper did a wonderful job of explaining his brilliance in simple terms.

RIP Mr. Munger

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THE DEFINITION OF SUCCESS

 You will become as small as your controlling desires or as great as your dominant aspiration.

If asked to define “Success”, you would probably list impressive achievements, wealth, fame, power, freedom and influence. You would be right, and you would be wrong. Success is so much more. Success is an attitude that unfolds the very best in EVERY aspect of your life. So why does it seem elusive? Because most people are so focused on selected results that they fail to understand that success isn’t a result, it’s a process with measurable steps all of which start with a singe choice. 

Success is not a thing – not a reward that awaits you at some far off time. Success lies in doing well whatever thing you are doing now. It is more a matter of mental attitude than of mental or physical capacity. You have all the fundamentals of it right now. But it is only the USE of them that can make you successful. It is the way you use what you have. You can succeed with what you have at this moment, if only you learn to use it correctly. Ask of yourself what ability you have which can be made to develop into something worth while. 

Great successes are simply a group of little successes built one upon another. Work hard, ask God for wisdom, listen to his answers and act on his direction and opportunities. But also be prepared for the hard times, because you never know when they will come knocking either. 

You have all that the greatest of men have had

Two eyes, two ears, two hands, two feet

Whether they were explorers or scientists or builders or speakers or motivators

They came here with no more or no less than you

The difference between the mighty and the mundane

Is what you do with what you have.

To your success and till the next time

Bruce

WHEN GOD CREATED WOMAN

When God created woman he was working late on the 6th day....... An angel came by and asked." Why?  Read More

THE OBSTACLES IN YOUR LIFE

 

Many of life’s failures are people who did not realize how close they were to success when they gave up. Keep believing in yourself and your abilities.

Although problems appear to be burdens to us in our lives, they are actually opportunities for growth. In the long run, we really should welcome problems and frustrations for only out of the solutions do we find real growth and happiness.

It’s very hard to put into practice. I know. It’s hard to have a hectic day with two or three major things going wrong and to say to yourself “This is a great chance for me to grow!” Blah!! Now you sound like one of those ‘sunshine’ people who always see the good side of life. Well, you know they are probably right even though most of us would rather not admit it. 

A lot of us even make a life out of avoiding work commitments, stress, almost anything that might “initially” be painful. Have you ever had a job where you worked twice as hard at looking busy as you would’ve if you just actually did something? Sounds funny but I know a lot of folks who have.  Myself included. But after a while, we find ourselves in “No-wheres-ville”, doing nothing with a bunch of other nobodies who are doing nothing too. And before you know it, your life is just a bunch of coulda, woulda, shoulda ...... 

Sooner or later, we all must take the initiative and try to confront the problem. Face a little pain and find out you actually can live through it. It becomes a habit after a while. They say successful people all have one thing in common. They are willing to do what the average person is not. They are willing to take a risk, try to solve a problem or face a difficult decision. And they don’t give in to fear. 

In the book "Attitude is Everything" by Jeff Keller, he states that there are seven ways in which Adversity can serve us, they are:                                                   

1. Adversity gives us perspective. Once you've recovered from a life-threatening illness, a flat tire or a leaky roof doesn't seem  so  troubling anymore. You're able to rise above the petty annoyances of daily living and focus your attention on the truly important things in your life.     

2. Adversity teaches us to be grateful. Through problems and difficulties, especially those which involve loss or deprivation, you develop a deeper  appreciation for many aspects of our life. It's trite but true, you don't usually appreciate something until it's taken away from you. When  you  have no hot water, you suddenly value hot water. Not until you're sick do you cherish good health. The wise person continues to dwell on blessings, even after the period of loss or deprivation  has passed. Remember,   we're always   moving in the direction of our dominant thoughts; therefore, concentrating on what you  have to be grateful for brings even more  good things into your life.  

3. Adversity brings out our hidden potential. After surviving a difficult ordeal or overcoming an obstacle, you emerge emotionally  stronger. Life has tested you and  you were equal to  the task. Then, when the next hurdle appears, you're better  equipped to handle it. Problems and  challenges bring out the best within us we discover abilities we ever knew we possessed. Many of us would never have discovered these talents if life hadn't made us travel over  some bumpy ground. Adversity reveals to you your own strengths and capacities, and beckons you  to develop those qualities even further. 

4. Adversity encourages us to make changes and take action. Most  people cling to  old, familiar patterns regardless of how   boring or painful their lives have  become. It often takes a crisis or a series of difficulties to motivate them to make adjustments. Problems are often life's way of letting you  know that you're off course and need to take corrective action. 

5. Adversity teaches us valuable lessons. Take the example of a failed business venture: The entrepreneur may learn  something that enables him or her to succeed spectacularly on the next venture. 

6. Adversity opens a new  door. A relationship terminates and you go on to a more satisfying relationship. You lose your job and find a better one. In these instances, the "problem" is not a problem at all, but rather an opportunity in disguise. One door in your life has been shut, but there is a better one waiting to be opened.

7. Adversity builds confidence and self-esteem. When you muster all of your courage and determination to overcome  an obstacle, you feel competent and gain confidence. You have a greater feeling of self-worth and you carry these positive feelings into subsequent activities.

Obstacles are the greatest blessings God can give you. They bring out the soul of you. They bring the Infinite Power within you to your help. And anything which acquaints you with the Spirit within you, anything that gives you understanding of the infinite power that lies within you, anything that brings the Holy Spirit into your daily affairs, is worth while no matter what it’s cost.

The Bible states that "when troubles come your way, consider it an opportunity for great joy. For you know that when your faith is tested, your endurance has a chance to grow. So let it grow, for when your endurance is fully developed, you will be perfect and complete, needing nothing." (James 1: 2 - 4)

Although problems appear to be burdens to us in our lives, they are actually opportunities for growth. In the long run, we really should welcome problems and frustrations for only out of the solutions do we find real growth and happiness.

I’ll leave you with this little story I remember from a while ago. In ancient times a King had a boulder placed on a roadway then he hid himself and watched to see if anyone would remove the huge rock. Some of the King’s wealthiest merchants came by and simply walked around it. Many loudly blamed the King for not keeping the roads clear but did nothing about removing the stone from the way. Then a peasant came along carrying a load of vegetables. On approaching the boulder, the peasant put down his load and tried to move the stone. After much pushing and straining he finally succeeded. After he picked up his load of vegetables, he noticed a purse laying on the road where the stone had been. The purse contained many gold coins and a note from the King indicating that the gold was for the person who moved the stone from the roadway. The peasant learned what many others never understood. Every obstacle presents an opportunity to improve one’s condition.

So, the next time you suffer a problem or setback in your life don't get discouraged or give up. Don't let problems cloud your attitude window forever. Clear off that cloudy window. You find, after the dust settles, that you can actually see better than you did before. Just remember the words of Napoleon Hill: "Every adversity carries with it the seed of an equivalent or greater benefit". 

Till the next time

Bruce

 

 

 

LIMITING BELIEFS – WHY YOU SOMETIMES DON’T GET WHAT YOU WANT

Not all prayers are answered. Everyone knows that. Skeptics see this as evidence that prayer does not work. What they overlook is that for prayer to work it must be used effectively, with a clear understanding of it’s scientific basis. 

What if you find your prayers are not answered as you would like? What then? You must understand the principal reasons for such failure. These are: lack of confidence and too much effort. Many people block answers to their prayers by failing to fully comprehend the workings of their subconscious mind. When you know how your mind functions, you gain a measure of confidence. 

Your failure to get results may be a consequence of mentally making negative statements such as: 

• Things are getting worse
• I will never get an answer
• I see no way out
• It is hopeless
• I don’t know what to do
• I am all mixed up and I’m not sure what to do 

When you use such statements, you get no response or co-operation from God (your subconscious mind). 

If two of you agree here on earth concerning anything you ask, my Father in heaven will do it for you. (Matthew 18:19) 

Who are these two who are spoken of? They stand for the harmonious union or agreement between your conscious and subconscious mind on any idea, desire, or mental image (thought). When there is no longer any quarrel between the different parts of your mind, your prayer will be answered. The two agreeing may also be represented as you and your desire, your thought and feeling, your idea and emotion, your desires and imagination. 

You must remember that whenever your subconscious mind accepts any idea or thought, it immediately begins to execute it. It uses all its mighty resources to that end. It mobilizes all the mental and spiritual laws of your deeper mind. This law is true for good thoughts, but it holds true for bad thoughts as well. Consequently, if you use your subconscious mind negatively, it brings trouble, failure and confusion. When you use it constructively, it brings guidance, freedom, and peace of mind. 

If you need wisdom, ask our generous God, and he will give it to you. He will not rebuke you for asking. But when you ask him, be sure that your faith is in God alone. Do not waver, for a person with divided loyalty is as unsettled as a wave of the sea that is blown and tossed by the wind. Such people should not expect to receive anything from the Lord. Their loyalty is divided between God and the world, and they are unstable in everything they do. (James 1: 5-8)

Maybe you find yourself thinking; 

• I want to healing, why can’t I get it?
• I try so hard, why don’t I get results?
• I must force myself to pray harder.
• I must use all the will power I have. 

You must realize where your error lies. You are trying too hard! Never try to compel your subconscious mind to accept your idea by exercising willpower. Such attempts are doomed to failure. All too often you end up getting the opposite of what you prayed for.

Any time you try to force your subconscious mind to do something for you, you will fail. The results you want will become more distant instead of closer. Your subconscious mind does not respond to mental coercion. It responds to your faith or conscious mind acceptance. The thought “I will use my will power to overcome my failure” reinforces the thought of failure. Mental effort often leads to self defeat, creating the opposite of what is desired. To focus on the need to exert will power is to emphasize the condition of powerlessness. It is like deciding that you will do all you can not to think of a pink elephant. The decision makes the idea of a pink elephant dominate the mind, and the subconscious always responds to the more dominant idea. Your subconscious will accept the stronger of the two contradictory propositions.

When you diligently seek God, He promises that a reward is coming. He promises He will give you strength, wisdom, favor, good breaks, promotion, healing and restoration. When you seek Him with your whole heart, you will find Him, and you won’t be able to outrun His goodness and blessing!

Till the next time

Bruce

YOUR WORDS ARE IMPORTANT

When was the last time you seriously thought about the words you use each and every day? How carefully do you select them? 

Our words have tremendous creative power. Whenever we speak something out, either good or bad, we are giving life to what we are saying. WORDS can build a bright future, destroy opportunity or help maintain the status quo. 

Our words can run in different directions. “With the tongue we praise our Lord and Father, and with it we curse human beings” (James3:9). Unfortunately, the Bible warns that it’s very hard to control our speech because words spring from our hearts (Luke 6:45). 

In the book "Attitude is Everything" by Jeff Keller he says that your words reinforce your beliefs...and your beliefs create your reality. You should think of this process as a row of dominos that looks like this:

Thoughts > Words > Beliefs > Actions >Results

If you have positive THOUGHTS and reinforce them with positive WORDS then in turn it would strengthen your BELIEF and as a result you would take the ACTIONS necessary to wind up with outstanding RESULTS.

Never underestimate the power of your words in this process. People who feed themselves a steady diet of negative words are destined to have a negative attitude. It is a simple mater of cause and effect. You can't keep repeating negative words and expect to be a high achiever. And that's because negative words will always lead to reinforcement of negative beliefs...and eventually to negative outcomes.

Too many people go around saying negative things about themselves, their family, and their future. Things like, “I’ll never be successful. This sickness is going to get the best of me. Business is so slow I don’t think I’m going to make it. Flu season is coming. I’ll probably get it.” They don’t realize they are prophesying their future and they are going to get exactly what they’ve been saying.

The tongue has the power of life and death, and those who love it will eat its fruit (Proverbs 18:21, NIV)

Here is the key: “you’ve got to send your words out in the direction you want your life to go”. You cannot talk defeat and expect to have victory. You can’t talk lack and expect to have abundance. You will produce what you’ve been saying. With your words you can either bless or curse your future. Make sure your words are what God says about you so you can move forward in the life of blessing He has in store for you!

No matter what you may be facing today, the words of your mouth can help set the course for your victory or set the course for defeat. You decide by what you say. When you wake up with an attitude of faith and expectancy you will be strengthened and empowered. But at the same time, if you go around talking about your problems or talking about defeat, it drains your faith and sets your focus in the wrong direction.

Let the words of my mouth, and the meditation of my heart, be acceptable in thy sight....... (Psalms 19:14, KJV)

That’s why it’s so important today and every day to take inventory of what you are saying. When challenges and obstacles arise, declare that God is your refuge and strength. Declare His Word. Declare that He is for you. Keep the weeds out of your heart and mind by letting go of bitterness and choosing to forgive. Stay in step with God with your words and actions and receive His strength and power to be all He’s called you to be.

You have a choice

Recognize that just because you have said things in the past there's no reason to blindly continue doing so. While it takes some discipline and vigilance on your part to make changes in your language, it is well worth the effort. Therefore use words that are consistent with the path you truly wish to be on... take action along those lines... and watch yourself begin to travel in that wonderful direction.

Till the next time

Bruce

THE EFFORTLESS WAY

 

My Mother always talked about “the effortless way” to living your life and getting what you want. She would always say “when you put God in charge of your life you have no worries, no stress and everything becomes effortless. All you have to do is put everything in God’s hands and he will take care of it for you”. 

The effortless way that my mother always talked about meant that you put everything to God in prayer. Prayer is conversing and communicating with God. When we pray, we can talk to God aloud or within our thoughts. 

Prayer is an earnest desire that we take to God.  Prayer is the soul’s sincere desire, it is our heart’s desire. But even sincere desire is not enough by itself. There must be BELIEF, too. Therefore I tell you, whatever you ask for in prayer, believe that you have received it, and it will be yours (Mark 11:24 NIV). You must realize God’s ability to give you every good thing in life. You must believe in his readiness to do it. Model your thoughts after the Psalmists of old. They first asked for that which they wanted, then eliminated all doubts and fears by affirming God’s power and his willingness to grant their prayers. For prayer to be effective Faith is required. Without faith, prayer accomplishes virtually nothing…but with faith, anything is possible! 

Try to make prayer your first response instead of your last resort when facing a new challenge or an old temptation.

And we are confident that he hears us whenever we ask for anything that pleases him. And since we know he hears us when we make our requests, we also know that he will give us what we ask for. (1 John 5: 14-15)

Even when we are praying for or about things other than our own spiritual needs and growth, conversing with God cannot fail to have a pervasive and spiritually strengthening effect on all aspects of our personality. That conversation makes an indelible impression on our minds, and our consciousness of him remains vivid as we go through our day.

Keep on asking, and you will receive what you ask for. Keep on seeking, and you will find. Keep on knocking, and the door will be opened to you. For everyone who asks, receives. Everyone who seeks, finds. And to everyone who knocks, the door will be opened.  You parents—if your children ask for a loaf of bread, do you give them a stone instead? Or if they ask for a fish, do you give them a snake? Of course not! So if you sinful people know how to give good gifts to your children, how much more will your heavenly Father give good gifts to those who ask him.  (Matthew 7:7-11)

Is there something you are believing God for today? Does it seem like it’s taking a long time to come to pass? Be encouraged because the Bible says that …through faith and patience you will inherit His promises (Hebrews 6:12 NLT). If you’ll stay in faith, if you’ll keep on seeking Him, it won’t be long until you see that breakthrough!

The problem is that most people give up just before they get their prayers answered. They stop when things get hard or when they don’t get the answer they want the first time. But the verse encourages us to continually ask and continually seek. That doesn’t mean that we seek Him one time and then stop. No, we must seek Him until we have his promise!

Asking is the golden key to receiving! Asking is admitting that we have a lack or limitation. Ask not and you will receive not. Fear is a hindrance which the enemy uses to cripple us so that we refrain from asking. Fear tells you, 'It doesn't make sense to ask, there is a global recession going on, so why bother to ask?”

We have to make known our needs to God in prayer, ask His help, and then we have to BELIEVE he will give us what we need. Prayer alone is not enough. We may pray incessantly, yet, if we do not BELIEVE that God will give us what we need, we have no reason to expect that we shall receive what we have asked for. 

So why do so many fail to receive that for which they ask? Because they are not persistent enough. They do not convince the God in them that their prayer is something they MUST have. They ask and knock once or twice, and because the door is not immediately opened, they give up in despair. Remember “The Lord is not slow in keeping his promise, No, he is being patient for your sake…"(2 Peter 3:9, NLT) 

Successful prayer requires three basic steps: 

1. Acknowledge or admit the problem
2. Turn the problem over to God, who alone knows the most effective solution or way out.
3. Rest with a sense of deep conviction that God will grant what you ask for. 

Doubts and hesitations only weaken your prayer. Do not say to yourself, “I wish I could be healed” or “I hope this works.” Your feeling about the work to be done sets the tone. Believe and know that whatever you ask for is yours. 

Today, submit your prayers to the Lord and keep an attitude of faith and expectancy. Keep asking. Keep seeking. Keep knocking on the door, and it will be opened to you. Know that God is working behind the scenes. He is perfecting whatever concerns you. Don’t give up! Instead, start thanking Him for His faithfulness in your life. Thank Him for His promise that He is a rewarder of those who diligently seek after Him!

Till the next time

Bruce