“My tax return in the United States has to be kept on a special computer because their normal computers can't deal with the numbers. So I am constantly getting these notices telling me I haven't paid something when really it is just on the wrong computer.” StatesUnitedDealsNumbersUnited StatesSpecialHavensReturnTaxesNormalComputerPaidTax Returns Author:Bill Gates
“People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored to something. People tend to view the prices they’re used to as normal and prices removed from these levels as aberrant. This perpective leads people to trade counter to an emerging trend on the assumption that prices will eventually return to “normal”. Therein lies the path to disaster.” PeopleWantUsedLyingLevelsViewsPathReturnNormalTradeSellsNotionDearDisasterAssumptionTrendsEmergingCheapness Author:William Eckhardt
“You travel life has the aspect of a dream. It is something outside the normal, yet you are in it. It is peopled with characters you have never seen before and in all probability will never see again. It brings occasional homesickness, and loneliness, and pangs of longing ... But you are like the Vikings who have gone into a world of adventure, and home is not home until you return.” WorldCharacterHomeDreamGoneLonelinessAdventureReturnNormalAspectLongingProbabilityOccasionalVikingsHomesickness Author:Agatha Christie
“The distribution of the market is fat-tailed relative to the normal distribution... For passive investors, none of this matters, beyond being aware that outlier returns are more common than would be expected if return distributions were normal.” IfsMatterWould BeCommonReturnNormalInvestingExpectedFatsInvestorsRelativePassiveDistributionOutliers Author:Eugene Fama
“The United States should do whatever it is able to do to assist in the return of normal economic health in the world, without which there can be no political stability and no assured peace.” WorldShouldWarStatesAblePoliticalUnitedUnited StatesEconomicColdReturnNormalStabilityCold WarAssured Author:George C. Marshall
“we are dealing with a return to what might be a far more normal relationship between the West and Russia. Russia is what it is that we see. It's not dressed up in its birthday costume. It is what it is. It regards its national interests as important enough to fight for. And the difference on the whole Ukraine situation is that the Russians are prepared to fight for their position on Ukraine, and the West is not.” ImportantEnoughWholeMightFightingInterestDifferencesSituationPositionReturnNormalRegardPreparedWestRussiaCostumesUkraineDressed UpIt Is What It IsNational Interests Author:Marvin Kalb
“It was most essential for me to have a normal life in the real world as a counterpoise to that strange inner world. My family and my profession remained the base to which I could return.” WorldRealStrangeReturnEssentialsNormalMy FamilyProfessionReal WorldNormal LifeInner World Author:Carl Jung
“In East Germany it was very normal for a woman to go out and work even if she had children. A few weeks after giving birth women would return to their normal working life. We never had housewives in East Germany.” IfsGivingChildrenWeekReturnBirthNormalEastGermanyHousewifeGiving BirthWorking LifeEast Germany Author:Christian Schwochow
“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.” ThinkingShouldLongBigsCarePastValuesTurnsTermSimpleCompanyMagicReturnNormalAreasConcernedStrategyAddDepthCertaintyAnalysisLong TermThoughtfulFormulasI CareEarningBig PictureScreeningRankingProxyVolatilityFoolproof Author:Joel Greenblatt
“My goal is to buy a company at a low multiple to normal earnings power several years out and that the company earns good returns on capital at that level of normal earnings. A holding period of more than one year also works quite well as the factors are persistent in years 2 and 3.” YearsWellsGoalLevelsCompanyReturnPeriodsNormalLowsFactorsMultipleEarningPersistent Author:Joel Greenblatt
“Who know what life is going to be like. I mean, there was no demand for the spaces before. It's not like people were flocking to Sochi before; they just didn't have enough hotel rooms and arenas to fill the need. So that's what we'll look at when we go there. But we'll wait a few years until things kind of return to normal.” PeopleKnowsNeedsYearsLooksKindMeanEnoughLife IsWaitingSpaceRoomsReturnDemandNormalHotelArenaHotel RoomsSochi Author:Gary Hustwit
“America has also forever lost the service of thousands of good soldiers who are now disabled as a result of battle wounds in Iraq. Many others will need mental and emotional rehabilitation before they can return to normal life.” NeedsAmericaLostResultsForeverEmotionalReturnBattleNormalSoldierIraqWoundsDisabledNormal LifeRehabilitationGood SoldiersBattle Wounds Author:John Olver
“The search for God is a reversal of the normal, mundane worldly order. In search for God, you revert from what attracts you and swim toward that which is difficult. You abandon your comforting and familiar habits with the hope (the mere hope!) that something greater will be offered you in return for what you have given up.. if we truly knew all the answers in advance as to the meaning of life and the nature of God and the destiny of our souls, our belief would not be a leap of faith and it would not be a courageous act of humanity; it would just be.. a prudent insurance policy.” IfsSoulHumanityOrderBeliefGivenDifficultAnswersDestinyGreaterPolicyReturnHabitNormalMereFamiliarMeaning Of LifeAbandonCourageousLeapSwimWorldlyComfortingGiven UpMundanePrudentLeap Of FaithReversalInsurance Policy Author:Elizabeth Gilbert