For non-techie people, open source is where the internals of a software (such as Firefox) is open to anyone to modify. It helps strengthen the overall project and drives creativity. Rather than being stuck with the same bland thinking that is only generated by one person, hundreds of people suggesting ideas and theories create a countless number of perspective, insight, knowledge and wisdom. I believe the community at Old School Value is the same.
The failure with EMAG hurt, but a positive consequence of the failure dawned on me. One which overwhelms the negativity of the loss.
After posting about the aftermath of EMAG, I received emails from readers who encouraged and gave me a virtual pat on the back for being able to admit my mistakes and to learn from it.
I’m always humbled and embarrassed to hear that people admire and respect me for what I do on this blog (though I’m not sure what I do..). I’m very grateful for that. Readers could have just as easily blamed me for their losses or leave abusive comments but there has been none of the sort.
Advice and Food for Thought
Along with encouragement, I’ve been able to receive advice from others. No two people think identically, and the correspondence I am able to have with readers through email and comments is always challenging and mind expanding.
This whole EMAG drama produced a flurry of ideas and communication as well a chance to reflect on my investment habits and processes.
(The next post will be a discussion I had with a reader on Risk-Reward compared to Reward-Risk)
This is where I bring up the term Open Source Investing. I lay out my thoughts, ideas and everything else and leave it for people to pick it apart and reveal weaknesses.
All I have to do is accept the genuine contributions and reject the spam. Always be willing to replace an idea with a better one.
Handling Difficult Situations
I just want to share something from a multi-disciplinary approach that helps me with how I handle losses and difficult situations.
Response + Ability = Liberty
With the ability to respond in a positive and correct way, we are free from the stress and disappointment that comes with a big loss. The liberty to think through it objectively rather than to shut it out completely and be consumed by the responsability.
Big Thank You!
Thank you to all who send me emails. Your encouragement and exchange of ideas make it a joy to keep writing.
Thank you to all who comment and contribute, and also helping me to make money
Thank you to all that read.
Thank you to all that visit.
Thank you for making this an active, open source community.