The Power of Commonplace Books and Long-Term Commitment in Investing

The Power of Commonplace Books and Long-Term Commitment in Investing

Introduction:

In the pursuit of personal growth and knowledge, keeping a commonplace book has been a long-standing tradition among some of history's greatest minds. This central resource serves as a repository for ideas, quotes, anecdotes, observations, and information that one comes across during their life and didactic pursuits. From Marcus Aurelius to Petrarch, individuals have utilized commonplace books to distill wisdom and practical teachings. In this article, we will explore the benefits of maintaining a commonplace book and delve into the importance of long-term commitment in the realm of investing.

The Art of Curiosity and Marginalia:

To truly benefit from a commonplace book, one must cultivate the habit of reading widely. Exploring various topics, genres, and perspectives allows us to stumble upon unexpected gems of knowledge. As we read, it is crucial to mark down passages, words, anecdotes, stories, and any information that stands out to us. This practice, known as marginalia, fosters engagement with the material and encourages a conversation between the reader and the author. By incorporating marginalia into our commonplace books, we actively participate in the learning process, transforming mere words into meaningful insights.

Expanding the Boundaries of a Commonplace Book:

While books are often the primary source of material for a commonplace book, it is important to remember that inspiration can be found in various forms. Movies, speeches, videos, and conversations can all contribute to our understanding of the world. By expanding our sources beyond traditional reading materials, we open ourselves up to a wealth of diverse perspectives. The key is to capture anything good that resonates with us and add it to our commonplace book. Ultimately, it is our book, and we have the freedom to curate it in a way that serves our learning priorities.

Organizing Wisdom: Categories and Themes:

As our commonplace book grows, organizing the collected wisdom becomes essential. The ability to shuffle and move the cards, both metaphorically and literally, allows us to group ideas and concepts into various categories. This organization process enables us to extract the maximum value from the knowledge we have accumulated. Like Ronald Reagan, who kept quotes on a notecard system, we can create our own structure based on our search and interests. By focusing on finding good stuff, the themes that emerge will guide our categorization efforts, providing a roadmap through the vast expanse of our commonplace book.

Investing with Long-Term Commitment:

Just as a commonplace book encourages us to prioritize and retain valuable information, long-term commitment is vital in the world of investing. It is not merely the initial idea that holds significance, but rather the ability to choose and remain dedicated to an idea for the long haul. At Morin Capital's Syndicate, the emphasis lies not only on capital and technology but also on building lasting companies through close, personal relationships. By fostering authentic connections and staying committed to the journey, entrepreneurs can navigate the challenges of growth and ultimately build thriving enterprises.

Actionable Advice:

• 1. Cultivate a habit of reading widely: Explore diverse topics and genres to uncover unexpected wisdom and perspectives.

• 2. Embrace marginalia: Engage in a conversation with the material by taking notes, underlining passages, and highlighting meaningful insights.

• 3. Stay committed for the long term: In investing and other endeavors, choose ideas carefully and dedicate yourself to the journey, nurturing lasting relationships and striving for authentic growth.

Conclusion:

Incorporating the practice of keeping a commonplace book into our lives can unlock a treasure trove of knowledge and insights. By actively engaging with material and organizing information, we can distill wisdom and create a valuable resource for personal growth. Similarly, in the realm of investing, long-term commitment and authentic relationships are key to building lasting companies. By combining the power of a commonplace book with the principles of commitment, we can navigate the complexities of life and work towards meaningful and impactful endeavors.