There are three important principles to Graham's approach. [The first is to look at stocks as fractional shares of a business, which] gives you an entirely different view than most people who are in the market. [The second principle is the margin-of-safety concept, which] gives you the competitive advantage. [The third is having a true investor's attitude toward the stock market, which] if you have that attitude, you start out ahead of 99 percent of all the people who are operating in the stock market - it's an enormous advantage.
Especially for people of our generation, who really celebrated certain attitudes - the outsider, the loner - it can have a real impact on the art when they realize, I have friends, I'm married, or I have kids. That's certainly happened to me.
When faced with demanding situations, can you keep your heart as light as a feather? Can you laugh your way through challenges and maintain an attitude freer than fear? When confronted with upsets and the poisonous projections of others, can you remember that all is well? Do you know that you are a spiritual being, not subject to the whims and caprices of earthly tides?
I'll go to a restaurant where I've never been before, and someone will say, "I don't have anything big for you to eat." I used to be a little salty about that, but at the end of the day, what they're saying is, "I know who you are. I watch your stuff." What's better than that? Gratitude is the attitude. That's the thing. What am I being pissy about?
Praise and blame alike mean nothing. No, delightful as the pastime of measuring may be, it is the most futile of all occupations, and to submit to the decrees of the measurers the most servile of attitudes.