To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.
Discipline does not mean suppression and control, nor is it adjustment to a pattern or ideology. It means a mind that sees 'what is' and learns from 'what was'.
The interesting thing about golf is that the presidency requires focus and discipline, and golf requires focus and discipline. It was a way to make sure that parts of my life were focused and disciplined.
What is the next step, the practical application? —I will answer that the absolutely vital thing is to consolidate your understanding, to become capable of enjoyment, of living in the present, and of the discipline which this involves. Without this you have nothing to give.
Every discipline develops standards of professional competence to which its workers are subject... Every scientific community is a society in the small, so to speak, with its own agencies of social control.
The discipline of colleges and universities is in general contrived, not for the benefit of the students, but for the interest, or more properly speaking, for the ease of the masters. Its object is, in all cases, to maintain the authority of the master, and whether he neglects or performs his duty, to oblige the students in all cases to behave toward him as if he performed it with the greatest diligence and ability.
Self-discipline, although difficult, and not always easy while combating
negative emotions, should be a defensive measure. At least we will be able to prevent the advent of negative conduct dominated by negative emotion. That is 'shila', or moral ethics. Once we develop this by familiarizing ourselves with it, along with mindfulness and conscientiousness, eventually that pattern and way of life will become a part of our own life.