CategoryIntegrity

If You Want to Succeed, First Define Success

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In 1934, an English teacher in South Bend, IN was discouraged by parents who complained when their son or daughter received a “C.”  It seems “C” was perfectly fine for their neighbor’s children, because it was average and the neighbor’s children were, of course, average. However, for their own children, a “C” was disappointing, and the parents would try to make the teacher and student feel like they had failed. The teacher didn’t feel this was right. He could see that...

10 Lessons from Benjamin Franklin on Wisdom

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The investor Mohnish Pabrai was having lunch with Warren Buffett, and he asked him, “if you could have lunch with anyone, living or dead, who would it be?” Buffett replied with a smile, “I’d love to have lunch with Sophia Loren.” But then he got serious and he said, “scratch that answer. I’d really like to have lunch with Isaac Newton.” Mohnish probed Buffett further and asked him “why Isaac Newton?” Buffett replied, “Isaac newton is probably the smartest guy who ever walked this earth. It...

Richard III, Prince Harry, Nassim Taleb, Warren Buffett and Skin-in-the-Game

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Battle of Bosworth, as depicted by Philip James de Loutherbourg (1740–1812) On August 22, 1485, King Richard III led his troops into the Battle of Bosworth Field in Leicestershire, England. Things didn’t go well for Richard III that day. In the heat of battle, he found himself unhorsed and in desperate need of help. Shakespeare immortalized the moment with the famous line; “A horse, a horse, my kingdom for a horse!” A horse was not forthcoming and Richard III was eventually slain on the...

5 Lessons from Viktor Frankl’s book “Man’s Search for Meaning”

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In 1945, within months of his liberation from a concentration camp in Nazi Germany, Viktor Frankl sat down to write a book. He was forty years old. Before the war he worked as a successful psychologist in Vienna. He wrote the manuscript in nine successive days. Although the book tells the story of the unfathomable horrors and suffering he endured as a prisoner at Auschwitz, Dachau and other camps, the primary purpose of the text is to explore the source of his will to survive. The book...

10 Lessons from the Berkshire Hathaway Annual Meeting

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 1. “All you had to do was figure that America was going to do well overtime.” – Buffett Buffett kicked off the meeting by providing the audience with “a perspective on how you might think about investing.” The entire audience leaned in. Isn’t this why we all traveled to Omaha? On March 11, 1942, young Warren Buffett made his first stock purchase. He was eleven years old. Warren held up a copy of the front page of the New York Times that day.  It was filled with bad news...

The 8 Best CEOs from the Past 50 Years

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In the 2012 Berkshire Hathaway Letter to Shareholders, Warren Buffett recommended the book The Outsiders, by William Thorndike, calling it “an outstanding book about CEOs who excelled at capital allocation.” It tells the story of eight unconventional CEOs who managed to outperform the S&P 500 by over twenty times. How did they do it? It wasn’t through charismatic leadership – they were not cheerleaders or marketers. In fact, they rarely landed on the front page of a...

Good Leaders Promote Emotional Well-Being

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Things don’t make you happy, but experiences and relationships do. Highly productive people understand this and apply it in their own lives to maintain spiritual and emotional well-being. Great leaders also leverage this truth to create a positive culture and get the most out of their people. If you survey the happiness literature, one theme you’ll find is that happiness depends on one’s ability to accept the world for what it is, and to be content with what you have today. From the ancient...

Lessons from a 630-Year-Old Family Business

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The Cantina at the Antinori Winery. The Antinori family of Italy traces the founding of its family-owned wine business to 1385.  That’s 630 years and 26 generations of business continuity. Consider the risks that a business faces over a span of that period, including war, plague, economic crisis, political turmoil, family health, and sibling rivalries just to name a few.    Any one of these events could easily end a fragile family business, and many Antinori generations have faced more than one...

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