Jim Rogers' Keys to Success (taken from the titles and sub headings of each chapter in his latest book, A Gift to My Children):
1. Do not let others do your thinking for you
2. Focus on what you like
3. Good habits for life & investing
4. Common sense? not so common
5. Attention to details is what separates success from failure
6. Let the world be a part of your perspective
7. Learn philosophy & learn to think
8. Learn history
9. Learn languages (make sure Mandarin is one of them)
10. Understand your weaknesses & acknowledge your mistakes
11. Recognize change & embrace it
12. Look to the future
13. “Lady Luck smiles on those who continue their efforts”
14. Remember that nothing is really new
15. Know when not to do anything
16. Pay attention to what everybody else neglects
17. If anybody laughs at your idea view it as a sign of potential success
Most powerful exercise from the book:
“Reflect on situations where conventional wisdom and custom turned out to be wrong. Take the time to find out what actually happened.”
Favorite Quotes:
“Anything that is a must see, must try, must read, should almost certainly be avoided, especially if it is popular.”
“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.”
“Learn to stay calm especially in times of pressure or turmoil. You will make much better decisions.”
“Do not get married until you are at least 28 and know a bit more about yourself and the world.”
“Learn to do as much arithmetic and figures as possible in your head.”
Excerpt from a book review by Miguel Barbosa, Seeking Alpha.
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