2-1a7a4 In the long run reality gets in; narrative can get you so far

“If you don’t deal with reality, then reality will deal with you” – Alex Haley

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• 2-1a7a2 Assets with actual substance or weight have the best prospects over the long term

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• 2-1a4b 百聞は一見に如かず - Build, Show, Use ＞ Explain, Tell, Research
  • 2-1a7a5 Build day by day unless anything fundamental (‘the core’) changed. Superficial-uncontrollable criteria (e.g., share price) matter less.

Related:

• 3-1a4b2a A great business at a fair price is superior to a fair business at a great price
• 5-1 When you are long truth you are long volatility and time
• 5-1b4 Be prepared to deal with short-term nonsenses, but know what you’re focused on in the long-run and stay optimistic
• 5-2c2b0.3 The way you become resistant to volatility is not by being robust or antifragile per se but by being one with the reality
• 5-2c2b3 ‘When you punt something into the future, the future eventually arrives’