Translated by Andrew Vanburen from: 投資致勝首要條件 (中文翻譯, 請閱讀下面)
THE MOST BASIC requirement for success in the stock market is to ‘stay in the game’, as best exemplified by the recently departed founder of Apple, Steve Jobs.
What lessons can today’s investors take away from this in these topsy-turvy times?
Jobs (1955-2011) relished life and all its challenges right up until the bitter end, with the college dropout-turned visionary finally succumbing to the deadly disease of cancer at the age of 56.
He began his professional life in the 1970s by founding Apple, one of the most iconic names to ever grace the prestigious list of revolutionary information technology firms.
But he was soon up against formidable competition as his admirers turned into rivals and also wanted a piece of the still nascent IT and home computer revolution.
This prompted him to hedge his bets, and he hitched his wagon to the established star that was Disney, being a significant mover and shaker – and shareholder -- in the entertainment behemoth’s Pixar animation studios.
Apple then developed another trophy asset – NeXT – which bolstered the Cupertino, California-based firm's across-the-spectrum profile and product range.
After briefly leaving Apple in the early 1980s, Jobs established NeXT Computer Co in 1985 using total seed capital of 7 mln usd. The next year, facing pressure from creditors, he managed to convince Texas billionaire (and unsuccessful 1992 US presidential candidate) Ross Perot to invest heavily in the firm. This resulted in NeXT workstations being released in 1990 at a sky-high list price of just under 10,000 usd per unit.
After a period where perhaps Apple lost its edge, and tried to outdo rather than out-innovate the competition, Jobs brought the computer maker back from the dead to quickly ascend to a position of strength it never enjoyed previously.
Leading the charge was the company’s line of home computers which began to be simply referred to as Apples to differentiate them from “PCs” for which IBM was the standard bearer manufacturer.
This quickly morphed into the seemingly ubiquitous panoply of iPhones, iPads and iPods that are for many urbanites these days as close as “must-have” items as one can get.
It is generally accepted as truth that that Steve Jobs completely overhauled and revolutionized at least six major IT industry sub-categories during his over half-century on this planet: personal computers, cellphones, eBooks, music, animation and flat-screen computers.
Not a bad resume for someone who, sadly, left us prematurely.
With over three decades experience at or near the pinnacle of global innovation leadership, and the heights he reached, one can only imagine what else this young-at-heart entrepreneur would have accomplished if cancer had not cut his life short.
Sadly, ifs and maybes are not part of history, but the legendary accomplishments of Steve Jobs will live with us forever.
A Lifetime of Achievement Interrupted by Mortality
Surely there was more to come from Steve Jobs, but the tumors in his pancreas had other ideas.
Every successful entrepreneur has a little bit of the workaholic in him or her, but they would deny it, saying they fully enjoy putting in a full day’s work (which can sometimes creep well into the double digit hours).
If the entrepreneur occasionally takes a day or two off for a mini-holiday, chances are they won’t experience withdrawal symptoms and they’ll come back to the office (or home workstation) with renewed vigor and vitality.
However, take away that person’s health – even for a few hours – and that will be the only thing that matters to him, and all efforts will be redirected to trying to recover that state of physical well being.
This piece here is meant to be part tribute, and part reflection, on the shortened life of Steve Jobs.
And we all, in varying ways, have been positively influenced by the technological innovations that Steve Jobs gifted to mankind.
And what lessons can investors – and innovators – take from the life of Steve Jobs?
After all, things got off to a rough start when he decided to drop out of Reed College in his freshman year.
I think it is this: business and success provide no guarantees and there are no cookie cutter recipes for success.
But the only way to even have a chance at success is to stay hungry, stay foolish... and stay in the game as long as life allows you, because you never know when the next opportunity will come knocking.
And staying in the game is exactly what Mr. Jobs ultimately did.
See also: HONG KONG BOURSE’S Best Bargains?
投資致勝首要條件：Stay in the game
(文: 黃國英, 豐盛融資資產管理部董事)
金錢遊戲，人之所需，難以告終。喬布斯嘗勉勵後進謂：Stay hungry. Stay foolish.誠哉斯言。投資投機，欲更進一步，則宜加上：Stay in the game.
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