“If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill involved, it will accelerate the process of concentrating all the stakes in a few hands. Something like this happens in the market. There is a persistent overall tendency for equity to flow from the many to the few. In the long run, the majority loses. The implication for the trader is that to win you have to act like the minority. If you bring normal human habits and tendencies to trading, you'll gravitate toward the majority and inevitably lose.” IfsHumansLongEnoughHandsHappensRunningCertainGamesWinningProcessLosesNumbersPlayerHabitInvolvedSkillsNormalFlowMajorityTendenciesMinoritiesStakesLong RunsTradingEquityPersistentImplicationsParticipantsConcentratingTradersAccelerateBetting Author:William Eckhardt
“The real transgression occurs when religion wants government to tell citizens how to live uniquely personal parts of their lives. The failure of Prohibition proves the futility of such an attempt when a majority or even a substantial minority happens to disagree. Some questions may be inherently individual ones, or people may be sharply divided about whether they are. In such cases, like Prohibition and abortion, the proper role of religion is to appeal to the conscience of the individual, not the coercive power of the state.” PeopleWantMayRealStatesGovernmentHappensIndividualRolesCasesCitizensProveConscienceMajorityAppealsAbortionMinoritiesDividedDisagreeProhibitionFutilityTransgression Author:Edward Kennedy
“once your eyes get opened to pacifism, you can't shut them again. Once you see it, you can't unsee it. You may bitterly regret the fact that you happen to be one of the tiny minority of the human race who have caught this angle of vision, but you can't help it.” HumansMayFactsHelpingHappensEyePeaceRaceVisionRegretCaughtTinyHuman RaceMinoritiesAnglePacifism Book:It Occurred to Me Source: It Occurred to Me