Calvin K

“How? Try to travel into the future and look back. In 2023, do you think you’re more likely to say, “Back in 2018, I wish I’d been more aggressive” or “Back in 2018, I wish I’d been more defensive”? And is there anything today about which you’d be likely to say, “In 2018, I missed the chance of a lifetime to buy xyz”? What you think you might say a few years down the road can help you figure out what you should do today.”
― Howard Marks, Mastering The Market Cycle: Getting the Odds on Your Side

“Masa lampau hanya baik buat diingat sekali-sekali jika itu merupakan sesuatu yang menyenangkan.”
― Nh. Dini, Keberangkatan

“Consider a turkey that is fed every day. Every single feeding will firm up the bird’s belief that it is the general rule of life to be fed every day by friendly members of the human race “looking out for its best interests,” as a politician would say. On the afternoon of the Wednesday before Thanksgiving, something unexpected will happen to the turkey. It will incur a revision of belief.*”
― Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable

“Being too far ahead of your time is indistinguishable from being wrong.” So”
― Howard Marks, The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor