“Most of the problems that plague our society - addiction, overeating, crime, domestic violence, prejudice, debt, unwanted pregnancy, educational failure, underperformance at school and work, lack of savings, failure to exercise - are in some degree a failure of self-control.” SelfProblemSchoolViolenceCrimeExerciseDegreesPrejudiceAddictionEducationalDebtSavingOur SocietyPregnancySelf ControlDomestic ViolencePlagueSavingsUnwantedOvereatingUnwanted PregnancyUnderperformance Author:Roy Baumeister
“The cost of performing well in bad times can be relative underperformance in good times.” WellsCostInvestingPerformingGood TimesRelativeBad TimesPerforming WellUnderperformance Author:Seth Klarman
“Money managers have to account for their actions to their shareholders, which means they have an undue fear of underperformance. We invest only our own money. Our investments are driven by optimism, not fear.” MeanActionOptimismAccountsInvestmentDrivenManagersShareholdersUnderperformance Author:Richard Chandler
“The strategy of buying what's in favor is a fool's errand, ensuring long-term underperformance. Only by standing against the prevailing winds - selectively, but resolutely - can an investor prosper over time. But for a while, a value investor typically underperforms.” LongValuesTermWindFoolStandingStrategyFavorsLong TermBuyingInvestorsPrevailingErrandsUnderperformance Author:Seth Klarman
“Only three things happen naturally in organizations: friction, confusion, and underperformance. Everything else requires leadership.” HappensThreeOrganizationExcellenceThings HappenConfusionThree ThingsFrictionUnderperformance Author:Peter Drucker