In life it often happens that the answers are right in our own back yards. This may be particularly true of investing.
Please refer to our transcription below if it is easier and/or more convenient for you:
The story is told of a farmer in ancient Persia named Ali Hafed. He had a large farm with gardens and grain fields, and was a wealthy and contented man.
One day Ali Hafed had a visitor who told him all about diamonds, a wonderful stone that was found in faraway lands. They were the most precious commodity on earth, and a person who had them would be wealthy beyond belief.
Ali Hafed couldn’t stop thinking about the diamonds, and soon he became discontented with his farm and fields, so he sold them, and set out to search for a diamond mine.
After years of searching, he died poor and penniless in a far off land, never having found what he sought.
The man who purchased Ali Hafed’s farm one day led his camel to the water to drink, and saw something glimmering in the water. He pulled out a black stone that was only the first of many shining stones in the river. This, according to the legend, was how the famous diamond mine, the Golconda, was discovered, the most magnificent diamond mine in the world, from which such diamonds as the Hope Diamond and the Crown Jewels of England were taken.
Had Ali Hafed stayed home and dug in his own back yard, he would have had acres of diamonds. In life, it often happens that the answers are right in our own back yards.
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