Author: LINUS FERNANDES
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Charles Duhigg: Focus becomes a habit
“The more you focus, the more that focus becomes a habit.” —Charles Duhigg.
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Warren Buffett: How do you beat Bobby Fischer?
“It’s way better to be in securities markets if you have a hundred IQ and everybody else operating has an 80, than if you have 140 and all the rest of them also have 140. So the secret of life is weak competition. Somebody said, ‘How do you beat Bobby Fischer?’ You play him in…
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William Godwin: Collision of mind with mind
“If there be such a thing as truth, it must infallibly be struck out by the collision of mind with mind.” —William Godwin.
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George Bernard Shaw: I dread success
“I dread success. To have succeeded is to have finished one’s business on earth, like the male spider, who is killed by the female the moment he has succeeded in his courtship. I like a state of continual becoming, with a goal in front and not behind.” —George Bernard Shaw.
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Alan Perlis: Error-free programs
“There are two ways to write error-free programs; only the third one works” —Alan Perlis.
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Tzvetan Todorov: Certainties
“We should not be simply fighting evil in the name of good, but struggling against the certainties of people who claim always to know where good and evil are to be found.” —Tzvetan Todorov.
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Muhammad Ali: Boxing will be nothing again
“When I’m gone, boxing will be nothing again. The fans with the cigars and the hats turned down’ll be there, but no more housewives and little men in the street and foreign presidents. It’s goin’ to be back to the fighter who comes to town, smells a flower, visits a hospital, blows a horn and says he’s…
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Rukmini Devi Arundale: Silent cry of agony
“Animals cannot speak, but can you and I not speak for them and represent them? Let us all feel their silent cry of agony and let us all help that cry to be heard in the world.” —Rukmini Devi Arundale.
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Warren Buffett: Casino-like behaviour
“Though the stock market is massively larger than it was in our early years, today’s active participants are neither more emotionally stable nor better taught than when I was in school. For whatever reasons, markets now exhibit far more casino-like behavior than they did when I was young. The casino now resides in many homes…
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Richard Garriott: Preparation and opportunity
“Luck is the intersection of preparation and opportunity. Opportunities parade past all of us all the time. The key is that you must be paying attention to see them, you must be willing to take risks, you must expose yourself to the possibility of massive failure and you must believe in what you are doing…
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John Steinbeck: Things we admire
“The things we admire in men, kindness and generosity, openness, honesty, understanding and feeling are the concomitants of failure in our system. And those traits we detest, sharpness, greed, acquisitiveness, meanness, egotism and self-interest are the traits of success. And while men admire the quality of the first they love the produce of the second.”…
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Anne Lamott: Writing
“There is a door we all want to walk through, and writing can help you find it and open it. Writing can give you what having a baby can give you: it can get you to start paying attention, can help you soften, can wake you up. But publishing won’t do any of those things;…
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Victor Hugo: Conviction
“The greatest happiness of life is the conviction that we are loved — loved for ourselves, or rather, loved in spite of ourselves.” —Victor Hugo.
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Charlie Munger: Fewer predictions
“If our predictions have been a little better than other people’s, it’s because we tried to make fewer of them.” —Charlie Munger.
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Benjamin Franklin: Two ways of being happy
“There are two ways of being happy: We may either diminish our wants or augment our means — either will do — the result in the same; and it is for each man to decide for himself, and do that which happens to be the easiest. If you are idle or sick or poor, however…
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Chris Bloomstran: Single greatest imperative
“Avoiding unnecessary risk is the single greatest imperative. Risk is always greatest at the peak but also the most underappreciated or recognized at the peak.” —Chris Bloomstran.
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Arthur Schopenhauer: Air of great solemnity
“There is no absurdity so palpable but that it may be firmly planted in the human head if you only begin to inculcate it before the age of five, by constantly repeating it with an air of great solemnity.” —Arthur Schopenhauer.
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Anais Nin: Throw your dream into space
“Throw your dream into space like a kite, and you do not know what it will bring back, a new life, a new friend, a new love, or a new country.” —Anais Nin.
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Erich Gamma: Design patterns
“Design patterns should not be applied indiscriminately. Often they achieve flexibility and variability by introducing additional levels of indirection. A design pattern should only be applied when the flexibility it affords is actually needed.” —Erich Gamma.
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Charles Bukowski: Unless I caused it
“I was waiting for something extraordinary to happen, but as the years wasted on, nothing ever did unless I caused it.” — Charles Bukowski.
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Herbert Spencer: Fill the world with fools
“The ultimate result of shielding men from the effects of folly, is to fill the world with fools.” —Herbert Spencer.
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Carson McCullers: Improvisation of human existence
“There’s nothing that makes you so aware of the improvisation of human existence as a song unfinished. Or an old address book.” —Carson McCullers.
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Seth Klarman: Inefficient markets
“Markets are inefficient because of human nature—innate, deep-rooted, permanent. People don’t consciously choose to invest with emotion—they simply can’t help it…. In short, we believe market efficiency is a fine academic theory that is unlikely ever to bear meaningful resemblance to the real world of investing.” —Seth Klarman.
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Anthony Bourdain: Embarrassing
“I always entertain the notion that I’m wrong, or that I’ll have to revise my opinion. Most of the time that feels good; sometimes it really hurts and is embarrassing.”— Anthony Bourdain.
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Nicole Kidman: Enormous gift
“It’s the strangest thing: A lot of people as they get older get more protected and terrified. My desire is to keep throwing myself into things. My parenting, my relationship, my work. I’ll take the pain. I’ll take the joy. Because the feeling makes me go, I’m in life. It’s an enormous gift, this life.”—…
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Alan Ashley-Pitt: Man who walks alone
“The man who follows the crowd will usually get no further than the crowd. The man who walks alone is likely to find himself in places no one has ever been.” —Alan Ashley-Pitt.
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Galileo Galilei: Humble reasoning of a single individual
“In questions of science, the authority of a thousand is not worth the humble reasoning of a single individual.” —Galileo Galilei.
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Charlie Munger: I’m not a polymath
“I’m not a polymath. What I am is a guy who has been able to take moderate obsession and a long attention span and turn them into pretty good results. Of course, a long attention span will help you a lot, if you’re reasonably smart.” —Charlie Munger.
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George Jean Nathan: Bad officials
“Bad officials are elected by good citizens who do not vote.” —George Jean Nathan.
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Bill Nygren: Just plain stupid
“Buying great businesses at average prices is as much value investing as buying average businesses at great prices. The idea that every business trading at a low P/E, P/B, P/anything ratio is a ‘value stock’ is just plain stupid. Some businesses are truly inferior and deserve to sell at low multiples.” —Bill Nygren.
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Warren Buffett: That’s the job
“The way you learn about businesses is by absorbing information about them, thinking, deciding what counts and what doesn’t count, relating one thing to another. And…that’s the job. And you can’t get that by looking at a bunch of little numbers on a chart bobbing up and down, or reading market commentary and periodicals or…
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Charles Darwin: Too much misery
“I own that I cannot see as plainly as others do, and as I should wish to do, evidence of design and beneficence on all sides of us. There seems to me too much misery in the world. I cannot persuade myself that a beneficent and omnipotent God would have designedly created the Ichneumonidae with…
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Lydia Maria Child: Government and power
“The government ought not to be invested with power to control the affections, any more than the consciences of citizens.” —Lydia Maria Child.
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Reg Braithwaite: Fertilize your mind
“All programming languages are sh*t. But the good ones fertilize your mind.” —Reg Braithwaite.
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Howard Marks: Investment strategy
“Investment strategy really is a two-edged sword, and he who lives by an aggressive strategy usually can die by it. It proved possible for investors to become too comfortable with volatility — when it was on the upside and called ‘profit.’ Volatility is a lot less enjoyable when it turns to the downside, but it’s…
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Khalil Gibran: Long before we experience them
“We choose our joys and sorrows long before we experience them.” —Khalil Gibran.
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Howard Marks: Big, low-risk profits
“In my experience, the big, low-risk profits have usually come from investments made at those times when recent results have been poor, capital is scarce, investors are reticent and everyone says ‘no way!’” —Howard Marks (“bubble.com” — January 2, 2000).
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John Ruskin: Expect a masterpiece
“When love and skill work together, expect a masterpiece.” —John Ruskin.
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Dr. Julie Gurner: Work against things
“People are more adept [at] working against [things] than oftentimes we give them credit for. We often think of people working for things, but they often work against things. They work against poverty. They work against their upbringing. They work against some of these things just as much as they’re working for them. Some people…
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Charles Dickens: Conventional idea
“I have known a vast quantity of nonsense talked about bad men not looking you in the face. Don’t trust that conventional idea. Dishonesty will stare honesty out of countenance, any day in the week, if there is anything to be got by it.” —Charles Dickens.
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Fred Smith: Common trait
“The common trait of people who supposedly have vision is that they spend a lot of time reading and gathering information, and then they synthesize it until they come up with an idea.”—Fred Smith, Overnight Success: Federal Express and Frederick Smith, Its Renegade Creator.
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Viktor Frankl: Don’t aim at success
“Don’t aim at success—the more you aim at it and make it a target, the more you are going to miss it. For success, like happiness, cannot be pursued; it must ensue, and it only does so as the unintended side-effect of one’s dedication…In the long run—in the long run, I say!—success will follow you…
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Charlie Munger: Foolish projection on a desk
“Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk (laughter), but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in…
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Carl Weathers: Don’t wait for the perfect moment
“Don’t wait for the perfect moment, take the moment and make it perfect.” —Carl Weathers.
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Georg Brandes: Hot metal
“Poor is the power of the lead that becomes bullets compared to the power of the hot metal that becomes type.” —Georg Brandes.
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Malcolm Forbes: Fact and fiction
“Anyone who says businessmen deal only in facts, not fiction, has never read old five-year projections.” —Malcolm Forbes.
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Chris Bloomstran: Durable earning power
“The value investor attempts to measure the durable earning power a business can produce over time and determines a fair or bargain price for the enterprise. There are myriad ways to skin a cat, but those in the value corner occasionally find situations where either profits can expand faster than revenues or where the price…
