Overcoming seemingly insurmountable obstacles are what defines us.
Watching markets go up and down isn’t intellectually stimulating for most regular people. It’s a burden.
Repetition is difficult in this business and the replication of past success stories is impossible.
Momentum is the premier market anomaly
You could end up living your life based on someone else’s values
Cost wasn’t a problem in the 1960s, when health care wasn’t as sophisticated. “People used to go to the hospital to die back then”
The S&P 500 would have to go nowhere for the next 5 years to bring the 2009 returns into alignment with the long-term averages
The public perception of what my personal balance sheet might be like is not what it really is.
The distance between the player and the fan is now zero.
The war in Vietnam began with political lies based on fake intelligence.