“As an investor my job is to figure out what will happen rather than what should happen.” Quote by David Einhorn
“It is better to be lucky than good, but of course appropriate to aspire to both.” CoursesLuckyAppropriateAspire Author:Jeremy Grantham
“The individual is far better-positioned to wait patiently for the right pitch while paying no regard to what others are doing, which is almost impossible for professionals.” IndividualWaitingImpossibleRegard Author:Jeremy Grantham
“I used to think that good short-sellers could be trained like long-focused value investors because it should be the same skill set; you’re tearing into the numbers, you’re valuing the businesses, you’re assigning a consolidated value, and hopefully you’re seeing something the market doesn’t see.But now I’ve learned that there’s a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into the realm of behavioral finance.” ThinkingShouldLongBigsUsedValuesFallDifferencesNumbersSeeingSkillsFocusedPsychologicalFinanceHopefullyRealmsI've LearnedInvestorsSellers Author:James Chanos
“Our mandate is to find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them. If the 200 best don't do better than the 200 worst, you should probably be in another business.” IfsWorldShouldCompanyWorstMandatesBest Company Author:Julian Robertson
“It seems to me that the least deserving recipients of wealth are inheritors. Further, there are many indications that inheritors often have trouble adjusting to their unearned inheritance. An inheritance tax would de facto help remedy this.” HelpingSeemsWealthTroubleTaxesRemedyInheritanceDeservingIndicationAdjustingInheritance Tax Author:Julian Robertson
“If we put a product into Sears, we don't want to have to pull it out in a year, or two years, or three years. We don't want to do that only to have it yanked away.” IfsWantYearsTwoThreeProductsTwo YearsThree YearsSears Author:Edward Lampert
“I don't like to be out of my comfort zone, which is about a half an inch wide.” HalfComfortWideZoneInchesComfort Zone Author:Larry David
“Sanctions make a substantial contribution to power based on privation, and they have never hurt a single despot in the whole history of their use.” WholeUseHurtContributionSanctionsDespots Author:Roger Scruton
“There’s a real question as to what beauty is and why it’s important to us. Many pseudo-philosophers try to answer these questions and tell us they’re not really answerable. I draw on art and literature, and music in particular, because music is a wonderful example of something that’s in this world but not of this world. Great works of music speak to us from another realm even though they speak to us in ordinary physical sounds.” WorldTryingArtImportantRealLiteratureSpeakSoundAnswersWonderfulExampleThis WorldParticularMusic IsDrawsOrdinaryPhilosopherRealmsGreat WorkPseudoReal QuestionsMusic SpeaksLiterature And Music Author:Roger Scruton
“State solutions are imposed from above; they are often without corrective devices, and cannot easily be reversed on the proof of failure. Their inflexibility goes hand in hand with their planned and goal-directed nature, and when they fail the efforts of the state are directed not to changing them but to changing people’s belief that they have failed.” PeopleStatesHandsBeliefGoalEffortFailingSolutionsProofDevicesHand In Hand Author:Roger Scruton