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Results Quotes

“Under miserable conditions of life, any vision of the possibility of better things makes the present misery more intolerable, and spurs those who suffer to the most energetic struggles to improve their lot, and if these struggles only immediately result in sharper misery, the outcome is sheer desperation.”

“Another simple and powerful way to dissolve problems is not to dwell upon the outcome of your actions. Instead, learn to value each action (no matter how small or large), to do it with complete attention. Your joy and satisfaction comes from doing each action with a whole heart and mind. Results and consequences then take care of themselves. When you are not absorbed by concern for outcomes, how much anxiety can you ever have?”

“Any individual decisions can be badly thought through, and yet be successful, or exceedingly well thought through, but be unsuccessful, because the recognized possibility of failure in fact occurs. But over time, more thoughtful decision-making will lead to better overall results, and more thoughtful decision-making can be encouraged by evaluating decisions on how well they were made rather than on outcome.”

“Fairy tales are loved by the child not because the imagery he finds in them conforms to what goes on within him, but because--despite all the angry, anxious thoughts in his mind to which the fairy tale gives body and specific content--these stories always result in a happy outcome, which the child cannot imagine on his own.”

“Man... is an inextricable tangle of culture and biology. And not being simple, he is not simply good; he has... a kind of hell within him from which rise everlastingly the impulses which threaten his civilization. He has the faculty of imagining for himself more in the way of pleasure and satisfaction than he can possibly achieve. Everything that he gains he pays for in more than equal coin; compromise and the compounding with defeat constitute his best way of getting through the world. His best qualities are the result of a struggle whose outcome is tragic. Yet he is a creature of love.”

“People would be a lot more skeptical if they understood that there is an incredible amount of chance in the results that you observe for active managers. So the distribution of outcomes is enormously wide - but that's exactly what you'd expect by chance with lots of active managers who hold imperfectly diversified portfolios. The really good portfolios contain a lot of really lucky picks, and the really bad portfolios contain a lot of really unlucky picks as well as some really bad ones.”

“Millions of mutual-fund investors sleep well at night, serene in the belief that superior outcomes result from pooling funds with like-minded investors and engaging high-quality investment managers to provide professional insight. The conventional wisdom ends up hopelessly unwise, as evidence shows an overwhelming rate of failure by mutual funds to deliver on promises.”

“When people in organizations feel too secure, it's because there aren't any significant outcomes as a result of what they do. Whatever you do, nothing much different happens. This also means there are no important pay-offs if you risk by innovating. As there are no rewards for taking risks, then there's no sense of push in that institution's culture.”