I read all this 1975 dated letter and while I enjoyed every piece of it, this phrase contained in the very last page is what caught my attention the most:
"Conventional approaches to money management should not be expected to produce above average results."
It basically means that if you want to perform better than your competitors you logically should act differently from them. As in distancing yourself from the status quo.
I can see this advice being spot on for startups as well, it has everything to do with thinking outside of the box and redefining the rules of the game.
"Conventional approaches to money management should not be expected to produce above average results."
It basically means that if you want to perform better than your competitors you logically should act differently from them. As in distancing yourself from the status quo.
I can see this advice being spot on for startups as well, it has everything to do with thinking outside of the box and redefining the rules of the game.
Good ole Warren nailed it decades ago.