A Quote by Alan Armstrong
We're coming off a quarter here that was in-line with our expectations, but much lower at WPZ due to Geismar's extended outage and a continued heavy capital investing period all as was expected.
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A major change is afoot as we combine both WPZ and Access into the large scale natural gas infrastructure MLP. And the team here at WPZ is very energized right now as we're on the verge of a major $1 billion boost in our annual cash flows that we expect to come from three major projects Geismar, Gulfstar and the Keathley Canyon Connector all of which have reached the commissioning stage here in the fourth quarter.
We all think we’re going to be great and we feel a little bit robbed when our expectations aren’t met. But sometimes our expectations sell us short. Sometimes the expected simply pales in comparison to the unexpected. You got to wonder why we cling to our expectations, because the expected is just what keeps us steady. Standing. Still. The expected's just the beginning, the unexpected is what changes our lives.
Just as a cautious businessman avoids investing all his capital in one concern, so wisdom would probably admonish us also not to anticipate all our happiness from one quarter alone.
I went to UGA for a quarter. One quarter of my extended university life. I enjoyed it. UGA was a blast. I crashed all the frat parties, dressing like a frat boy, acting like I was one of them. I had too much fun. So I had a good time for the quarter that I was a Bulldog. Go Bulldogs!
The optimum portfolio depends on the various expectations of choices available and the degree of variance in performance which is tolerable. The greater the number of selections, the less will be the average year-to-year variation in actual versus expected results. Also, the lower will be the expected results, assuming different choices have different expectations of performance.
Investing solely for 'income,' investing merely 'to keep capital employed,' and investing simply 'to hedge against inflation' are all entirely out of the question.
Everybody is pretty good in the first quarter. Second quarter, you have a little bump or two on you coming into the half. By the time the third quarter comes around, you're tired, you're laboring. When you come to the fourth quarter, it calls on your character.
The secret to happiness is to lower your expectations. ...that is what you compare your experience with. If your expectations and standards are very high and only allow yourself to be happy when things are exquisite, you'll never be happy and grateful. There will always be some flaw. But compare your experience with lower expectations, especially something not as good, and you'll find much in your experience of the world to love, cherish and enjoy, every single moment.
For Russians in the '90s, there was that sense of not knowing what the future held at all. And coming off a long period of when people actually were robbed of the ability to plan their future - that's very much a part of totalitarian control - that exacerbated it. In this country, we are not coming off a long period like that. But I think that for a lot of Americans, as a result of globalization, as a result of the housing crisis, the future is just too uncertain. And their place in the world is too uncertain.
Expectations are not based on reality. They are observations, expected realities, or beliefs of what you think will happen. Expectations of others stop us from acting as our highest selves and reaching our full potential.
Coming from heavy music too, it's really hard to have heavy music not sound too butthead-ish or jock-ish, and there's a fine line between Limp Bizkit and Nirvana - there's a fine line there, and it's terrifying.
The biggest revenue target is the preferential rate for long-term capital gains, which raises a perennial question: Why should capital income be taxed at a much lower rate than ordinary income? Capital assets are owned overwhelmingly by the rich.
The purpose of finance is to enable business to acquire the ownership of capital instruments before it has saved the funds to buy and pay for them. The logic used by business in investing is things that will pay for themselves is not today available to the 95% born without capital. Most of us owe instead of own. And the less the economy needs our labor, the less able we are to "save" our way to capital ownership.
Honorable beginnings should serve to awaken curiosity, not to heighten people's expectations. We are much better off when reality surpasses our expectations, and something turns out better than we thought it would.
I don't ever take an extended period off between minicamp and the start of training camp.
It is due to justice; due to humanity; due to truth; due to the sympathies of our nature; in fine, to our character as a people, both abroad and at home, that they should be considered, as much as possible, in the light of human beings, and not as mere property. As such, they are acted on by our laws, and have an interest in our laws. They may be considered as making a part, though a degraded part, of the families to which they belong.
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