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Important Quotes

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“In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached to large profits. I've certainly made some of my worst trades after long periods of winning. When you're on a big winning streak, there's a temptation to think that you're doing something special, which will allow you to continue to propel yourself upward. You start to think that you can afford to make shoddy decisions. You can imagine what happens next. As a general rule, losses make you strong and profits make you weak.”

“I do not recall another period when ‘faith’ was as popular as it is today. ‘If only we believe hard enough we'll make it somehow.’ So goes the popular chant. What you believe is not important. Only believe... What is overlooked in all this is that faith is good only when it engages truth; when it is made to rest upon falsehood it can and often does lead to eternal tragedy. For it is not enough that we believe; we must believe the right thing about the right One.”

“His [Turgot's] first important literary and scholastic effort was a treatise On the Existence of God. Few fragments of it remain, but we are helped to understand him when we learn that he asserted, and to the end of his life maintained, his belief in an Almighty Creator and Upholder of the Universe. It did, indeed, at a later period suit the purposes of his enemies, exasperated by his tolerant spirit and his reforming plans, to proclaim him an atheist; but that sort of charge has been the commonest of missiles against troublesome thinkers in all times.”

“I hold that two principles are important; first that there should be a steady expansion of public services, not an irregular one related to revenue accruing in any particular year; the second that taxes should be constant over long periods (provided, that is, that they are neither burdensome nor inequitable).”

“My art in the last period has all been in small format, but my paintings have become even deeper and more spiritual, speaking truly through colour. Feeling that because of my illness I would not be able to paint very much longer, I worked like a man obsessed on these little 'Meditations' (a long series of small paintings he made during the last years of his life, with as main motif the schema of a face, ed.). And now I leave these small but, to me, important works to the future and to people who love art.”

“Recognising that an ostentatious cult of heroism and state service served an important propaganda function for the British elite does not mean, of course, that we should dismiss it as artificial or insincere. All aristocracies have a strong military tradition, and for many British patricians the protracted warfare of the period was a godsend. It gave them a job, and, more important, a purpose, an opportunity to carry out what they had been trained to do since childhood: ride horses, fire guns, exercise their undoubted physical courage and tell other people what to do.”