A Quote by Anne Rice
The world doesn't need any more mediocrity or hedged bets.
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There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
Samuelson, however, hedged his personal bets - by putting some of his own money in Berkshire Hathaway.
The single greatest line I ever wrote as an analyst was after Lomas said they were hedged: 'The Lomas Financial Corporation is a perfectly hedged financial institution: it loses money in every conceivable interest rate environment.' I enjoyed writing that sentence more than any sentence I ever wrote.
We don't need no more rappers, we don't need no more basketball players, no more football players. We need more thinkers. We need more scientists. We need more managers. We need more mathematicians. We need more teachers. We need more people who care; you know what I'm saying? We need more women, mothers, fathers, we need more of that, we don't need any more entertainers
Nothing is as important as passion. No matter what you want to do with your life, be passionate. The world doesn’t need any more gray. On the other hand, we can’t get enough color. Mediocrity is nobody’s goal and perfection shouldn’t be either. We’ll never be perfect. But remember these three P’s: Passion + Persistence = Possibility.
If you have it you don't need it. If you need it, you don't have it. If you have it, you need more of it. If you have more of it, you don't need less of it. You need it to get it. And you certainly need it to get more of it. But if you don't already have any of it to begin with, you can't get any of it to get started, which means you really have no idea how to get it in the first place, do you? You can share it, sure. You can even stockpile it if you like. But you can't fake it. Wanting it. Needing it. Wishing for it. The point is if you've never had any of it ever people just seem to know.
I've never let my guard down by saying, 'I don't need to be hedged.'
The less you associate with some people, the more your life will improve. Any time you tolerate mediocrity in others, it increases your mediocrity. An important attribute in successful people is their impatience with negative thinking and negative acting people.
The one thing that I think separates Microsoft from a lot of other people is we make bold bets. We're persistent about them, but we make them. A lot of people won't make a bold bet. A bold bet doesn't assure you of winning, but if you make no bold bets you can't continue to succeed. Our industry doesn't allow you to rest on your laurels forever. I mean, you can milk any great idea. Any idea that turns out to be truly great can be harvested for tens of years. On the other hand, if you want to continue to be great, you've got to bet on new things, big, bold bets.
He who bets on governments and government money bets against 6,000 years of recorded human history.
Always hedge your bets. That's how I do it. I lay all my bets on what I can contribute, and suffer no illusions that I'm generating stuff by myself.
We have more possibilities, more freedom, more options than any people who have ever lived. Yet there is more junk, more mediocrity, more garbage to sort through than ever, too.
The first thing I learned is when times are tough, you need to hedge your bets - you need to diversify.
Ultimately, in the long run we need to immunise our system from being overly responsive to fluctuations in the exchange rate; that is, people should, by and large, be reasonably hedged, or they should borrow more in domestic currency rather than foreign currency.
We do not need more material development, we need more spiritual development. We do not need more intellectual power, we need more moral power. We do not need more knowledge, we need more character. We do not need more government, we need more culture. We do not need more law, we need more religion. We do not need more of the things that are seen, we need more of the things that are unseen. It is on that side of life that it is desirable to put the emphasis at the present time. If that side be strengthened, the other side will take care of itself.
A sapling must be hedged about for protection, but when it becomes a tree, a hedge would be a hindrance. So there is no need to criticise and condemn the old forms.
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