IT'S ALL ABOUT UNICORNS

Time As a Condition Sine Quanon In the wintertime I usually go for a walk in the forest. I like to see nature sleep. There are no cars, ads or neon signs, just the sound of the leaves and pebble gravel under my feet and the silent view of the oak trees. Walking along the hiking path I see hundreds of acorns lying half-covered by leaves on both sides of the trail. "This is unusual fot this time of the year," I thought. I picked one of them up from the ground and observed it carefully. At first glance I wasn't aware of it,  but it seemed to be germinating. As I was holding this seed in my hand I tried to imagine how one day it would become a giant oak tree like the others around me. "How long does it take for a oak tree to grow? Twenty, maybe thirty years?" I asked myself looking down at the acorn. The process of growing from seed to tree requires a very long time, in some cases an entire human lifespan. This growth seems invisible if you merely stand in fron...

Owning a Business According to Graham, Munger and Buffet we should own a company not a stock. Doing that changes our attitude to how we see a stock and most important: we shift from a short focused behaviour on stocks to a long term investing pattern. Outside the market buying a company will demand all your savings, take out a considerable loan and make a life-long effort to consolidate the business among other competitors. Imagine you want to buy a company which already has products, cash flow, workers and customers. The price you would pay for it, would be enormous. Therefore if you decide to acquire a company, it will be the most important decision in your life. And you wouldn't do it if you didn't believe in it. You couldn't reverse it easily unless you commit an economic and social suicide. When you start thinking like that, something changes in the way you look at the stock market. You wouldn't sell a company tomorrow if you bought it in real life. If you d...