“[Gambling] is a perfidious passion. ... It is bad for one to win, and bad not to win. ... it ends by setting your blood on fire, and to increase your chances of winning at any cost, your stakes increase frightfully; the desire of winning gets to be a madness. The soul gets sick; it neither sees nor hears anything. No family ties, position, nor fortune, can stand against this passion.” SoulEndsDesirePassionWinningChanceFireBloodPositionCostSickIncreaseMadnessFortuneSettingSettingsTiesGamblingStakesFamily Ties Author:Matilde Serao
“Investors frequently benefit from making decisions with less than perfect knowledge and are well rewarded for bearing the risk of uncertainty. The time other investors spend delving into the last unanswered detail may cost them the chance to buy into situations at prices so low they offer a margin of safety despite the incomplete information” WellsMayLastsChanceDecisionPerfectSituationRiskInformationCostOffersBenefitsLowsSafetyDetailsDespiteUncertaintyInvestorsMarginsIncompleteMaking DecisionsUnansweredDelvingIncomplete Information Author:Seth Klarman
“If we miss this chance to make a fresh start, we may look back on this moment from some later vantage point and realize how much that failure cost us all.” IfsLooksMayMomentsRealizingChanceMissingCostFresh StartVantage Point Author:Ronald Reagan