Looks at charts, fat finger occasionally. NFA
Joined April 2018
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May 26
I read old books for useful lessons on money, power and human nature.
Some contain ugly views from their era. I extract the lessons, not the prejudices.
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May 29
1/21
Balzac’s Rise and Fall of César Birotteau has one very modern lesson:
Success can make people reckless.
Not failure.
Not desperation.
Not poverty.
Success.
It is about a perfume seller with a good business, a good name, and a comfortable life.
Then he reaches for the next level too quickly.
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May 29
20/21
The reputation damage is even worse.
One small unpaid bill can do more harm than the amount itself.
Because it signals trouble.
Suppliers notice.
Creditors tighten.
Friends get cautious.
Confidence cracks.
In business, reputation is credit.
Once it turns, it becomes pressure.
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May 29
21/21
That is the useful lesson from Rise and Fall of César Birotteau.
A man with a real business borrowed against a future that had not arrived.
Old setting.
Modern mistake.
Do not spend like the win is locked in.
Do not borrow like the next rise is guaranteed.
Do not confuse paper wealth with cash.
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