📚 Roger's Highlights

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A batch of the best highlights from what roger's read, .

In present value terms, it hardly matters whether an enterprise will shut down forty years from now or never, as long as the end is not near, in the next decade or two. An income of $8 a year forever, discounted at 8 percent, is worth $100, while the same annual income for seventy-five years would round up to $100. Rounding to the nearest dollar, an annual income of $8 a year for thirty, twenty, and ten years would be worth $90, $79, and $54, respectively. Of course you want to avoid businesses whose lives are nasty, brutish, and short. Beyond a certain point, though, added years provide little benefit; what companies achieve in that interim matters more.

Big Money Thinks Small

Joel Tillinghast

The argument that a civil rights movement cannot in good conscience accept a law that goes only part of the way to equality comes from people who mistakenly attribute the sentiment to those who fought for racial equality. The 1964 Civil Rights Act did a great deal, but it left out vital areas of concern. Voting rights came a year later, and housing discrimination wasn’t statutorily outlawed until after Martin Luther King was murdered in 1968. The assertion that passing a law that reduces inequality without totally abolishing it amounts to complicity with the bigots has no historical basis.

Frank

Barney Frank

In my experience, high-achievers focus a great deal on becoming the person they want to be at work—and far too little on the person they want to be at home.

How Will You Measure Your Life?

Clayton M. Christensen, James Allworth, and Karen Dillon

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