tag:blogger.com,1999:blog-10950401505465685272024-02-08T05:42:02.999-08:00NGFC Equities, Inc.Anonymoushttp://www.blogger.com/profile/02377034161266567276noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1095040150546568527.post-81200321156515637172015-07-04T08:11:00.003-07:002015-07-04T08:11:57.553-07:00NAPOLEON HILL’S 13 SECRETS TO SUPER WEALTH <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">In the 1920 s journalist Napoleon Hill had an opportunity to interview </span><span lang="EN" style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-ansi-language: EN;">73-year-old Pittsburgh steel magnate Andrew Carnegie</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">, then the richest man in America, </span><span lang="EN" style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-ansi-language: EN;">and that interview changed his life.</span><span lang="EN" style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"> </span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Hill intently listened as
Carnegie recounted his extraordinary accomplishments and proffered his theories
on personal achievement. “It’s a shame that each new generation must find the
way to success by trial and error when the principles are really clear-cut,”
Carnegie told him.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Carnegie believed that “definiteness of purpose” was the starting point
for all success—that “the man who knows exactly what he wants… has no difficulty
in believing in his own ability to succeed.” The concept became the foundation
for Hill’s later writing and professional focus.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">What the world needed, Carnegie suggested, was a philosophy of
achievement, a compilation of success principles from the country’s greatest
businessmen and leaders to show the commonality of their stories, and serve as
inspiration and enlightenment to those wanting more in life.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Carnegie issued a challenge to Hill: Commit the next 20 years, without
compensation, to documenting and recording such a philosophy of success, and he
would introduce him to the wealthiest and most successful men of the time. Hill
jumped at the opportunity.<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">These are just a few of the influential people Napoleon Hill interviewed
on his 20-year quest to discover the science behind success.<br />
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Henry Ford - Founder of Ford Motor Co.<br />
Theodore Roosevelt - President of the United States <br />
Charles M. Schwab - President of United States Steel Corp. <br />
John D. Rockefeller - Founder of Standard Oil Companies <br />
Thomas A. Edison - Inventor <br />
F. W. Woolworth - Founder of F. W. Woolworth Co.<br />
Woodrow Wilson - President of the United States <br />
Wm. Howard Taft - President of the United States<br />
J. Pierpont Morgan Sr. - Builder of “The House of Morgan” <br />
Harvey S. Firestone - Founder of Firestone Tire & Rubber Co. <br />
Wm. Wrigley Jr.- Founder of Wm. Wrigley Jr. Co. <br />
Julius Rosenwald - Chairman of Board, Sears, Roebuck & Co.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif; font-size: 14pt;">Based on
those interviews Hill, he set forth the following 13 secrets to Super
Wealth:</span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-language: AR-SA;"><o:p></o:p></span></b></div>
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<b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Desire </span></b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Desire is the starting point for all achievement, the first step toward
riches. But it’s here that we so often run into a roadblock. A person will say,
“I know what I desire, but can I get it? The answer was best expressed by
Emerson: “There’s nothing capricious in nature, and the implanting of a desire
indicates that its gratification is in the constitution of the creature that
feels it.” In other words, you would not have the desire unless you were
capable of its achievement.<o:p></o:p></span></div>
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Your burning desire is nothing more than an accurate picture of what you will
one day become. So right here, firmly establish in your mind that which you
desire more than anything else, and cherish and nurture that desire. Do not
suppress or annihilate it. A man without desire has within him no principle of
action, or motive to act.<br />
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<b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Faith</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Faith is the state of mind that may be induced or created by affirmation
or repeated instructions to the subconscious mind by conscious auto suggestion.
By summoning over and over again a mental image of yourself already having
accomplished your main desire, you will muster the faith you need. Faith is
vital to accomplishment. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Have faith that you can accomplish that which you seek, for you would
never have decided upon it unless it was meant for you to accomplish it. If you
find it difficult at times to have faith in yourself, you may be certain that
you can have faith in these principles. <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Auto Suggestion</span></b><b><span style="font-size: 12.0pt; mso-bidi-language: AR-SA;"> </span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Through repeated suggestion, the subconscious mind can be put to work for
you. It’s the faculty of being able to concentrate your mind on your burning
desire until your subconscious mind accepts it as fact and begins to devise
ways of bringing it about. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Here’s where hunches come from, sudden flashes of thought, inspiration,
or guidance. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">To access the power of auto suggestion, go into some quiet spot, perhaps
in bed at night. Close your eyes and repeat aloud so you may hear your own
words a careful reaffirmation of whatever your goal happens to be. If it’s the
accumulation of a sum of money, reiterate the time limit for its accumulation
and a description of the service or merchandise you intend to give in return
for it. As you carry out these instructions, see yourself already in possession
of your goal. <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Specialized Knowledge</span></b><b><span style="font-size: 12.0pt; mso-bidi-language: AR-SA;"> </span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Knowledge is power only to the extent that it’s organized into a definite
plan of action and directed to a definite end. Before you can be sure of your
ability to transmute desire into its monetary equivalent, you will require
specialized knowledge of the service, merchandise, or profession that you
intend to offer in return for fortune. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Realize that you must learn all you can about your specialty. Set aside a
definite time every day for learning more about what it is you do for a living.
Take the courses that are offered on your subject and associate with people who
know your business well.<br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Imagination </span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Whatever the mind of man can conceive and believe, it can achieve. Man’s
only limitation, within reason, lies in the development and use of his
imagination and subsequent motivation to action. The great leaders of business,
industry, and finance, and the great artists, musicians, poets, and writers
became great because they developed the power of self-motivation. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">As you go about your daily work, think constantly of ways in which it
could be done better, more efficiently. Think of the changes that are
inevitable. Can they be made now? If you feel limited, remember the words of
the late Frank Lloyd Wright: “The human race built most nobly when limitations
were greatest and, therefore, when most was required of imagination in order to
build at all.” <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Decision </span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Analysis of several hundred people who’ve accumulated fortunes well
beyond the million-dollar mark disclose the fact that every one of them had the
habit of reaching decisions promptly and of changing these decisions slowly, if
and when they were changed. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">When you make up your mind, stay with it. The majority of people who fail
are generally easily influenced by the opinions of others. Opinions are the
cheapest commodities on earth. Keep your own counsel when you begin to put into
practice the principles described here by reaching your own decisions and
following them. Take no one into your confidence except the members of your mastermind
alliance (as discussed later), and be very careful in your selection of this
group, choosing only those who will be in complete sympathy and harmony with
your purpose. Close friends and relatives, while not meaning to do so, often
handicap one through uninformed opinions and sometimes through ridicule. <o:p></o:p></span></div>
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<b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Persistence</span></b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"> <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Persistence is simply the power of will. Willpower and desire, when
properly combined, make an irresistible pair. Persistence is to an individual
what carbon is to steel. In uncounted thousands of cases, persistence has stood
as the difference between success and failure. It is the lack of this quality
more than any other that keeps the majority from great accomplishment. As soon
as the going gets tough, they fold. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">If you’re to accomplish the goal you set for yourself, you must form the
habit of persistence. Things will get difficult. It will seem as though there’s
no longer any reason to continue. Everything in you will tell you to give up,
to quit trying. It is right here that if you’ll go that extra mile and keep
going, the skies will clear and you’ll begin to see the first signs of the
abundance that is to be yours because you had the courage to persist. With
persistence will come success? <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Enthusiastic Support</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">It is of great significance that behind practically every great leader
has been the supportive love and inspiration of a spouse. When things get tough
— and you can count on it, they will — you may be deserted by some you thought
were friends. But if you’ve got a good woman or man supporting you, you will
never be alone. He or she will be willing to start over again if necessary and
will give you the new enthusiasm that comes through faith in you. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
Having someone to love is having someone to share your success and
accomplishments; to give you the praise that all of us need from time to time.
A person can become successful without a spouse and family, but much of the
real joy is lost if it cannot be shared. Take care of your spouse and children
as your greatest possessions. <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">Organized Planning</span></b><b><span style="font-size: 12.0pt; mso-bidi-language: AR-SA;"> </span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">The first of the six steps for transforming desire into reality is the
formation of a definite, practical plan through which this transformation may
be made. Once you do, it is critical that you ally yourself with one or more
people or a group of as many people as you may need for the creation and
carrying out of your plan. <br />
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These people are your “mastermind alliance.”<br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Before forming your mastermind alliance, decide what advantages and benefits
you may offer the individual members of your group in return for their
cooperation. No one will work indefinitely without compensation, though this
may not always be in the form of money. <br />
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Arrange to meet with the members of your mastermind alliance at least twice a
week, and more often if possible, until you have jointly perfected the
necessary plan or plans for the accomplishment of your goal. <br />
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Maintain perfect harmony between yourself and every member of your mastermind
alliance. Keep in mind these facts: First, you are engaged in an undertaking of
major importance to you. To be sure of success, you must have plans that are as
faultless as possible. Second, you must have the advantage of the experience,
education, native ability, and imagination of other minds. This is in harmony
with the methods followed by every person who has risen above the average. Work
at this until you have a well-executed formal plan for reaching your objective.
In this way you’re never confused or wondering what you should do next. Every
morning you know exactly what you’re going to do and why. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Organized planning is one the most important principles, because a person
without a plan is like a ship without a course. With no place to go, disaster
is a probability. <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">The Power of the Mastermind</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">No two minds ever come together without thereby creating a third — a
third invisible, intangible force that may be likened to a third mind. You may
have noticed many times that by discussing something with another person you
suddenly get good ideas as a result of the discussion, ideas you would not have
gotten without this association. Well, the same thing happens to the other
person. A lot of good ideas have been born in individual minds as a result of
having met in committee. <br />
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Associating with your mastermind alliance is not meant as a means of letting
others do your thinking for you, far from it. It is meant to stimulate your own
thinking through the association with other minds. No one knows everything. The
more sympathetic minds you get together — that is, minds working for a common
purpose — the more related information is going to be available. Great ideas
are a combination of related information. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Pick the members of your mastermind group with care. Make sure they’re
people you respect and who are hard working and conscientious. You’ll have a
lot of fun, and you’ll reach your goals just that much sooner. <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">The Subconscious Mind</span></b><b><span style="font-size: 12.0pt; mso-bidi-language: AR-SA;"> </span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">The subconscious mind is a mental area in which all inputs through any of
the five senses are classified and recorded, and from which they may be
recalled or withdrawn like data from the storage banks of a limitless computer.
No one knows very much about what we call the subconscious mind but we do know
that it is incalculably powerful and can solve our problems if we go about
using it the right way. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">The best way is to hold in your conscious mind as often as possible a
clear picture of yourself already having accomplished your goal. Know what you
want. Define it clearly, and then project it on the motion picture screen of
your mind. Hold it. See yourself doing and having the things you have when your
objective will have been reached. Do these as often as practical, particularly
at night just before you go to sleep and the first thing upon waking? As you do
this, your subconscious will begin to lead you toward your objective. Don’t
fight it. Follow your sudden hunches, the ideas that come into your mind,
knowing that they may well represent subconscious knowledge. If you’ll keep at
this, you’ll be amazed and delighted by the ideas that just seem to come from
nowhere.<o:p></o:p></span></div>
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<b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">The Power of the
Brain </span></b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">If you had access to all the wealth in the world and used only a penny,
you would be doing exactly what most of us very probably have been doing in the
use of our brains. You own in your brain the most marvelous, miraculous,
inconceivably powerful force the world has ever known. <o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
It is the brain that has given us the computer, supersonic airplane, our deep
rocket probes into outer space, the sciences, and the arts. All of what we know
today and will achieve tomorrow is born from this small, gray mass each of us
carries around.<br />
Can you doubt, even for a moment, that your brain can bring you and yours
everything you want here on earth? Recognize its power, give it the job you’ve
decided to accomplish, and watch it handle it. <br />
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</span><b><span style="font-size: 14.0pt; mso-bidi-language: AR-SA;">The Sixth Sense</span></b><b><span style="font-size: 12.0pt; mso-bidi-language: AR-SA;"> </span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;"><br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">The sixth sense can be described as the sense through which your infinite
intelligence may and will communicate. This principle is the apex of the
philosophy. It can be assimilated, understood, and applied only by first
mastering the other 12 principles. The sixth sense is that function of the
subconscious mind that has been referred to as the creative imagination. It’s
also been referred to as the receiving set through which ideas flash into the
mind, sometimes called hunches or inspirations. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">The sixth sense cannot be described to a person who has not mastered the
other principles of this philosophy, because such a person has no knowledge and
no experience to serve as points of reference. The sixth sense is not something
one can take off and put on at will. The ability to use this great power comes
slowly through application of the other principles we’ve outlined. So begin to
develop it now by applying the principles we’ve talked about here. <br />
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-bidi-font-weight: bold; mso-bidi-language: AR-SA;">Remember this: Man can create nothing that he does not first conceive in
the form of an idea, a desire. Keep fear out of your mind. Concentrate on the
mental picture of yourself achieving your desire. Cut yourself away from the
average — from the mediocre — and chart your course on the dream in your heart. <o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/02377034161266567276noreply@blogger.com0tag:blogger.com,1999:blog-1095040150546568527.post-13840841772255571212015-05-30T12:58:00.002-07:002015-05-31T13:03:06.651-07:00Warren Buffett and Zen Buddhism<br />
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<span style="color: #333333; font-family: "Georgia","serif";">As
modest as Warren Buffett is, he will tell you that he does not consider him to
be a genius. He became so wealthy because Buffett has amazing common sense that
is uncommon in the world today. The reason others couldn’t do what Buffett did
could be better explained by dipping into Zen Buddhism. To better explain the
reasons, since Zen is full of tales, let’s begin with a tale: a wealthy man who
was constantly unhappy in spite of all his wealth, was once told that a Zen
monk has the recipe for happiness. The wealthy man, having sold his business
and having traveled a long way, comes to see the Zen monk only to be told that
finding happiness lies in two simple words: paying attention.<br />
<br />
Warren Buffett is living proof that anyone with some capital could make money
in the USA today if he or she only pays attention and apply common sense. In
that regard, here are the five tenets of Zen Buddhism one should follow to live
a life of responsibility and fulfillment:<br />
<br />
Right judgment<br />
Right speech<br />
Right company<br />
Right vision<br />
Right action<br />
<br />
Take a look at Warren Buffett’s life and you will see how above-mentioned
principles fit his lifestyle perfectly. His judgment on picking right companies
to invest is impeccable. When you ask him about his ability to have Right
Judgment he attributes that to common sense such as buying profitable
businesses that you know about (preferably with a barrier to entry, to avoid
competition) run by smart management with integrity. The point is anyone with
access to capital could do what Buffett does and make money but they don’t.
Instead they squander their money on speculation and consumerism. Spending on
speculative activities is less painful for most professionals in the business
since it is often other peoples’ money. If these professional managers actually
invest their own money then they may have the chance of becoming like Buffett.<br />
<br />
In the market today, when you give money to a broker and when he speculates and
wins you both win. But when the broker loses money only you lose. Your
professional money manager only shares your upside with you and avoids anything
to do with the downside. So if you have the right judgment you have to make
sure that your broker will not speculate with your money. Those who invest
money with Buffett know that he does not speculate. The reason Buffett does not
speculates is because he has paid attention and discovered that speculators
lose their money sooner or later and the way to make money is to invest in good
companies for the long term.<br />
How do you distinguish speculation from investment? That perspective comes with
knowledge and Buffett has gained the right knowledge by reading the right
books. And that’s how you get the right judgment since no one is really born
with knowledge. In that regard, practicality sets Buffett apart from Buddha the
leader of Zen Buddhism. To get the right judgment (attain Nirvana) Buddha had
to meditate for years (perhaps there were not enough books those days). But
Buffett attained his Nirvana by reading books. The ever-practical man, Buffett,
has a knack for picking the right books, and, as you will see, to pick the
right teachers.<br />
<br />
To scrutinize Right Speech, have you read some of Buffett’s speech? He never
seems to say anything unnecessary. He has a reputation for liking to talk too
much, and in most cases those who talk too much seem to bungle and put their
foot in their mouth; Buffett seems to be able to even avoid that. I guess it
comes from having the right judgment and discipline to follow that judgment.
Most people lie because they lose control of their thought and speech. This
discipline of being able to control his thoughts must account for Buffett’s
ability to be truthful.<br />
<br />
Warren Buffett’s lifelong business partner is Charles Munger. If you read
Munger’s writing you will recognize him as an exceptionally smart person, you
are likely to come across in life. Was it just a coincident that they both were
born and raised in the Mid West? In fact they both were born in the same
neighborhood and as a kid Munger worked in Buffett’s grandfather’s store.
Generalization is often considered not appropriate but these two people seem to
substantiate the inborn integrity and ethics of the people from the Mid West in
America. Most probably they had something to do with making America Great!<br />
<br />
The partnership between Buffett and Munger illustrates the third principle, the
Right Company. Luck may have played a part in this too. Buffett inherited his
characteristics from his dad. If you wonder why Buffett’s dad having the same
characteristics did not become the richest man on earth, there is a good reason
for that. Buffett’s dad was a Congressman and as we know there is no money in
being a Congressman unless you work for the lobbyists (even then the money is
not that substantial and not worth the aggravation- not to mention the
destruction they bring to this nation). Buffett’s father anyway wouldn’t
succumb to making money that way and in addition in good-old days there were
not too many lobbyists.</span></div>
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Well Buffett’s dad also had a stock brokerage in the later stage of his life
and that goes to show that he got the right judgment later in life. But those
days the US stock market rose only gradually—as it should be in a free market
with no government interference—as the true value of the companies listed on
the public markets increase its share of sales and profits proportionately. So
those in the ownership society became wealthy gradually and moderately with
wealth being spread evenly in the society. But the USA became an entirely different
society as Buffett began investing his money in the market. The US stock market
rose so rapidly even the town-crier could have become very wealthy by investing
in the general market and staying home. Just to give you an idea the Dow Jones
began the 1980s around 830 and in the next few years went on to become over
12,500 making Buffett the richest man on earth. So that’s where luck played
another major part in his life; no wonder some call Buffett the Forest Gump of
Wall Street.<br />
<br />
Buffett was the best student of legendary Benjamin Graham who is considered the
best investment teacher ever lived. Graham wrote the book Security Analysis
that still people consider the bible of investment. Anyone who had a teacher
like Graham and followed his advice couldn’t fail in life. For that matter all
of Graham’s loyal students are quite wealthy in the country today. Buffett had
read Graham’s book as a teenager, and made a wish to learn under the master.
Finally when Harvard University rejected Buffett as a student (reflect on the judgment
of Harvard to pick so many bad apples including the future CEO of Enron and
turn down Buffett!) Buffett got his opportunity to attend Colombia and study
under Graham.<br />
One of the rules of the book Security Analysis is to invest in companies only
when the value of stocks reach below its intrinsic value keeping a margin of
safety. When Buffett entered the world of investments, the stocks were still
over valued and had he followed the rules in Security Analysis to its finality,
he should have stayed away from the market till the market corrected itself bit
more. In fact, Ben Graham, according to an account advised Buffett to stay on
the sidelines a little longer since there was still more space for correction
for the market to reach intrinsic value. Had he adopted that strategy then that
would have cost him the opportunity to cash in on the steepest rise of stock
market, associated with early years of a long bull market because a pullback to
buy stock at less than intrinsic value never materialized during the years
following that beginning.<br />
<br />
According to Buffett, it was Charles Munger who persuaded Buffett to invest in
stocks even without a margin of safety or at above the intrinsic value.
Munger’s proposition was to buy stock of excellent companies at reasonable
prices (even in a bit overvalued market) and then to keep on buying more of the
same stock, if prices continued down but without over-leveraging. So at this
point Buffett had the right judgment not to follow what the Bible of investment
laid down, but to go along with the trends in the society as pointed out by his
company. Perhaps both Munger and Buffett watched the political and economic
trends and saw what’s in the offing in the coming decade.</span></div>
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With due respect to Ben Graham, let me add that technically he was not wrong
about waiting for a further correction because his strategy and contribution
was to make money in a free and a transparent society operating under rule of
law. So Graham couldn’t have imagined what is to come. In fact, I doubt even
Buffett and Munger team thought the stock market would rise that high
considering that it took Dow Jones close to 200 years to get to 830. I doubt
not only Graham but even Buffett, Munger team anticipated that in the ensuing
decades, the US government would be capable of borrowing so much money to turn
the greatest creditor nation to the biggest debtor facilitating most of such
borrowed money to end up in the stock market. Also I bet that none of these
intelligent investors had any clue as to the chutzpah of the Federal Reserve Board,
not to be outdone by the treasury, to print so much money and pump into the
market. Nevertheless Buffett was a major beneficiary of that recklessness. His
4 billion invested in the market in the 1970s ballooned to over 20 billion
dollars by the 1990s.<br />
<br />
What could have made Buffett/Munger team insightful at that time in history?
Perhaps they witnessed the end of the Gold Standard and saw the beginning of
unfettered monetarism, and being the practical men they were, made no objection
to any of it (perhaps sensing the futility in that) but rode the trend to their
benefit. Also witnessing the Japanese experience with monetarism that ran the
Japanese stock index also over 1500 percent may have added to a vision of some
remote possibility of the USA going in the same direction.<br />
<br />
On the point of Right Vision, Buffett’s expectations are quite simple. He wants
to be happy doing what he likes to do. I doubt he has any goals of changing the
world or helping out the victims in the society, although he has the capacity
to do so. Many eastern philosophers in history have pointed out that trying to
help all the victims in the world as an impossible task. Thus they have spread
their wisdom teaching people to take life for what it is and be happy within
those constrains. Buffett in that regard, in contrast to another similarly
smart and wealthy man George Soros—who spends his time and money performing
active and constructive charitable deeds—do not actively involve himself in charitable
activities.<br />
<br />
On the point of Right Action, Buffett lives a simple, uncomplicated life and
that is right if you believe the purpose of life is to be happy. Trying to
accumulate material goods and compete with others and be in a rush to make
money is the root cause of unhappiness. Living a humble life with people you
love to be with is the way to ultimate happiness. Buffett does not buy
expensive cars or shop at expensive places or eat at expensive restaurants. He
is reputed to visit McDonalds so often that they have given him a platinum card
so he can eat at any McDonalds for free; it definitely pays to be rich.<br />
<br />
The price of Berkshire Hathaway (his company) stock began at $5.00 per share
and now stands over $200,000 per share and often moving up or down $2,000 a
day. It is the most expensive stock in the world. As you may know all those who
invested with Buffett in the early days are now worth lots of money. However,
let’s not forget although Buffett does not live an extravagant life with money
he makes, as the stock of his company appreciates, the others who own the stock
live very flashy and extravagant lives. He has nothing against anybody being
happy doing what they want to do.<br />
<br />
Getting back to the tale that we brought up before, the wealthy man who went to
see the Zen Monk to find happiness, having heard the simple rules to being
happy, asked the monk if being happy is that simple why not everyone is equally
happy. The Zen master replied it is because most people do not like to find
simple answers but for some unexplainable reason complicate all matters.<br />
<br />
This is the same answer Warren Buffett gives to those who ask him, if making
money is that simple (as he often claims) then why not everyone is wealthy as
he is: because most people have a pervasion to complicate simple things in
life. In that regard, Warren Buffett is as close to a Buddha on Wall Street; a
task quite simple to do since it is all in one’s mind.<br />
<br />
As the Zen philosophy advocates anyone could become Buddha by following
above-mentioned five tenets. Similarly anyone can become wealthy in America by
paying attention and following the simple rules followed by Buffett. Don’t take
my word for it; ask Warren Buffett</span>Anonymoushttp://www.blogger.com/profile/02377034161266567276noreply@blogger.com0