“The capabilities (intellectual and material) of contemporary society are immeasurably greater than ever before - which means that the scope of society's domination over the individual is immeasurably greater than ever before. Our society distinguishes itself by conquering the centrifugal social forces with Technology rather than Terror, on the dual basis of an overwhelming efficiency and an increasing standard of living.” MeanIndividualForceSocialTechnologyGreaterMaterialsIntellectualStandardsBasesTerrorContemporaryConquerOur SocietyOverwhelmingCapabilityEfficiencyDominationScopeStandards Of LivingContemporary Society Author:Herbert Marcuse
“Do not accept principal risk while investing short-term cash: the greedy effort to earn a few extra basis points of yield inevitably leads to the incurrence of greater risk, which increases the likelihood of losses and severe illiquidity at precisely the moment when cash is needed to cover expenses, to meet commitments, or to make compelling long-term investments.” LongMomentsTermLossEffortAcceptingGreaterRiskNeededCommitmentBasesIncreaseInvestmentInvestingLong TermExtrasExpensesYieldCashCompellingPrincipalSevereGreedyShort TermLikelihood Author:Seth Klarman