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“She seems to have understood that risk management is not a goal in and of itself—but rather a set of strategies to ensure that one can take the big bets one needs to take to truly create value.”
― The Wisdom of Finance: Discovering Humanity in the World of Risk and Return
― The Wisdom of Finance: Discovering Humanity in the World of Risk and Return
“A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.”
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“Finance's starting point in valuation is that previous accomplishments and what you have today bear little relationship to real value. Finance is completely and ruthlessly forward-looking. The only source of value today is the future.”
― The Wisdom Of Finance: Discovering Humanity in the World of Risk and Return
― The Wisdom Of Finance: Discovering Humanity in the World of Risk and Return
“I do nothing but go about persuading you all, old and young alike, not to take thought for your persons or your properties, but and chiefly to care about the greatest improvement of the soul. I tell you that virtue is not given by money, but that from virtue comes money and every other good of man...”
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“We should experience as much as possible—just as insurance companies must—in order to make good decisions and understand the world with the right probabilities.”
― The Wisdom of Finance: Discovering Humanity in the World of Risk and Return
― The Wisdom of Finance: Discovering Humanity in the World of Risk and Return
Luahiwa’s 2025 Year in Books
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