“Imitation is for the most part so unconscious that its effects are almost unheeded, but its influence is not the less permanent on that account. It is only when an impressive nature is placed in contact with an impressionable one that the alteration in the character becomes recognizable. Yet even the weakest natures exercise some influence upon those about them. The approximation of feeling, thought, and habit is constant, and the action of example unceasing.” CharacterFeelingsActionInfluenceEffectsExampleHabitExerciseAccountsConstantContactPermanentUnconsciousImitationImpressiveAlterationsApproximationImpressionable Book:Happy Homes and the Hearts that Make Them. Or Thrifty People and why They Thrive Source: Happy Homes and the Hearts that Make Them. Or Thrifty People and why They Thrive
“Experience shows that the frequent use of severe punishment has never rendered a people better. The death of a criminal is a less effective means of restraining crimes than the permanent example of a man deprived of his liberty during the whole of his life to make amends for the injury he has done to the public.” PeopleMenMeanDoneWholeUseShowsLibertyCrimeExampleCriminalsPunishmentPermanentInjurySevereDeprivedDeath PenaltyAmendsRestraining Author:Catherine the Great
“The worst example of rural poverty is that of migrant farm workers. They have no permanent jobs, so they have no equity in the places where they work. They're not shareholders, let alone entrepreneurs. They're not small farmers, they're not market gardeners, they're just temporary - uprooted, isolated, easily exploitable people.” PeopleJobsPovertyWorstExampleEntrepreneurWorkersPermanentTemporaryFarmsFarmersIsolatedEquityGardenerShareholdersMigrants Author:Wendell Berry
“The minimum wage is not something that you want to stay on as a permanent basis. For example, if you have a minimum wage job, you don't stay there 20 or 30 years. You don't put your children through college working on minimum wage.” IfsWantYearsChildrenJobsExampleCollegeBasesOur ChildrenPermanentYour ChildrenMinimumMinimum Wage Author:John Raese
“We regard using [a stock's] volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return. Some great businesses have very volatile returns - for example, See's [a candy company owned by Berkshire] usually loses money in two quarters of each year - and some terrible businesses can have steady results.” YearsTwoLosesLossResultsCompanyRiskExampleReturnTerriblePermanentNutsQuartersSteadyCandyInadequateGreat BusinessVolatility Author:Charlie Munger