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“You can start over again! Don't even think about quitting now! It is easy to replay in your mind how things did not work, how much you lost, what you are going through, how angry you are. There is no amount of conversation or magic that is going to wipe the slate clean. You are wasting valuable time and energy that could be used to regain a new normal and start another version of your life. Even though you are hurt and you may be feeling down — stop kicking yourself! Face what has happened. Make the decision to start over again.”

“The big picture is: the main thing you should be concerned about in the future are incremental returns on capital going forward. As it turns out, past history of a good return on capital is a good proxy for this but obviously not foolproof. I think this is an area where thoughtful analysis can add value to any simple ranking/screening strategy such as the magic formula. When doing in depth analysis of companies, I care very much about long term earnings power, not necessarily so much about the volatility of that earnings power but about my certainty of "normal" earnings power over time.”

“It's hard: you get older, you have a career, the normal frustrations that come with what you do when you wear your heart on your sleeve and you try really heard. I was exhausted, and I couldn't quite see the magic of creating at that time. That's all. I couldn't get into it, and Andy [Kim] slowly resuscitated me, and that's how I made Darlings.”

“Of course, the toxic bullshit of incessant advertising and show biz for nearly a century has stripped us of cognitive abilities for dealing with reality that used to be part of the normal equipment of adulthood - for instance, knowing the difference between wishing for stuff and making stuff happen. We bamboozled ourselves with too much magic.”