It’s not the errors that I do see that bother me. It’s the errors that I don’t see.
What we should be doing is setting up a garden and investment portfolio that can maximize yields and minimize risk so that we are not in a feast or famine situation
Can we use the business cycle to time factor exposures
Growth masks a lot of management deficiencies. No growth tends to magnify them.
A recession is not observable in real time
We believe what we believe about investing because we’ve been conditioned to believe it.
Forever may turn out to be much shorter than you think.
The large brokerage firms like Richard Irvine & Co. were known to provide stock prices that were twelve days old,
I threw out all my Lakers rings
With Bill Simmons and Jackie MacMullan
Always be paranoid
With David Perrell and Jason Stein
You write history in a way that puts you there
With Conan O’Brien and Robert Caro
Most successful products fall either at the far end of the fidelity axis or at the far end of the convenience axis.