Donald

“When the game is no longer being played your way, it is only human to say the new approach is all wrong, bound to lead to trouble, etc. I have been scornful of such behavior by others in the past. I have also seen the penalties incurred by those who evaluate conditions as they were – not as they are. Essentially I am out of step with present conditions. On one point, however, I am clear. I will not abandon a previous approach whose logic I understand even though it may mean foregoing large, and apparently easy, profits to embrace an approach which I don't fully understand, have not practiced successfully and which, possibly, could lead to a substantial permanent loss of capital.6”
― Michael Batnick, Big Mistakes: The Best Investors and Their Worst Investments

“By the fall of 1929, Livermore built up his biggest short position ever, $450 million spread across 100 stocks. And he was about to receive the biggest payday of his entire life. From October 25 through November 13, the Dow crashed 32%. In those 11 days, the Dow fell 5% seven times. Livermore covered all of his shorts and was worth $100 million, equivalent to $1.4 billion in today's dollars. He was one of the richest people in the world. This would be the height of his powers.”
― Michael Batnick, Big Mistakes: The Best Investors and Their Worst Investments

“The people who are thriving—at any level, junior to senior—tend to have people approaching their desk all the time.” —Keith Rabois”
― Elad Gil, High Growth Handbook: Scaling Startups From 10 to 10,000 People

“Conservatism starts from a sentiment that all mature people can readily share: the sentiment that good things are easily destroyed, but not easily created. This is especially true of the good things that come to us as collective assets: peace, freedom, law, civility, public spirit, the security of property and family life, in all of which we depend on the cooperation of others while having no means singlehandedly to obtain it. In respect of such things, the work of destruction is quick, easy and exhilarating; the work of creation slow, laborious and dull. That is one of the lessons of the twentieth century. It is also one reason why conservatives suffer such a disadvantage when it comes to public opinion. Their position is true but boring, that of their opponents exciting but false.”
― Roger Scruton, How to be a Conservative