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Bernard McGrane Suggests That We Should Practice Using a Beginner's

question 60

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Bernard McGrane suggests that we should practice using a beginner's mind, the opposite of an expert's mind. Usually it's good to be an expert. Why should we try to think like beginners instead?


Definitions:

Sustainable Operating Profits

Profits from core business operations that are expected to continue or be maintained without significant new investment or changes in the business environment.

Nonrecurring Items

Financial events that are not expected to happen regularly in a company's business cycle, affecting the company's usual revenue or expenses.

Reported Income

The income that a company officially reports, usually on its income statement, reflecting the financial performance over a specific period.

Return on Assets (ROA)

A financial ratio that indicates how profitable a company is relative to its total assets, calculated as net income divided by total assets.

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