A Quote by Seth Klarman

The cost of performing well in bad times can be relative underperformance in good times. — © Seth Klarman
The cost of performing well in bad times can be relative underperformance in good times.
Bad times, hard times, this is what people keep saying; but let us live well, and times shall be good. We are the times: Such as we are, such are the times.
Governments are necessarily continuing concerns. They have to keep going in good times and in bad. They therefore need a wide margin of safety. If taxes and debt are made all the people can bear when times are good, there will be certain disaster when times are bad.
Carl Icahn told me to stay away from airlines. In good times, the unions take away the profits, and in bad times, the cost of oil kills you.
There's gonna be good times and bad times. When the good times come you got to ride it as long as you can. And when the bad times come you got to battle and try to get out of there as soon as you can.
I know perfectly well that in football, you have good times, and you have bad times.
One really important thing is to have good friends and family that will be there to help you when the hard times come. Because bad times do come, for everyone, at some point. The good part is, the bad times don't last forever.
A heart well prepared for adversity in bad times hopes, and in good times fears for a change in fortune.
The faults of advertising are only those common to all human institutions. If advertising speaks to a thousand in order to influence one, so does the church. And if it encourages people to live beyond their means, so does matrimony. Good times, bad times, there will always be advertising. In good times, people want to advertise; in bad times they have to.
At such times the universe gets a little closer to us. They are strange times, times of beginnings and endings. Dangerous and powerful. And we feel it even if we don't know what it is. These times are not necessarily good, and not necessarily bad. In fact, what they are depends on what *we* are.
Good times are a reminder and a reward for dealing with the difficult and challenging times we all go through. The trick is to celebrate the good times in advance of the difficult times. Always remember, good times await you after the difficult times pass.
I've discovered if you have a small circle of people you know you can rely on - in good times, bad times, happy times, sad times - who aren't going to judge you and will, sometimes, just sit and listen to you without saying anything, then I think you're very fortunate.
Both political parties have their good times and bad times, only they have them at different times.
Love is... what makes a weak man brave and a king step off his throne. Good times, bad times, easy times, tough times, it comes in an instant and lasts three days after forever. That's what love is.
You've got to go through some good times and some bad times, and hopefully you're able to recover from the bad times.
If you went to all those little towns in America, JPMorgan was there in good times and bad times, and, in fact, helped a lot of people through the tough times. And we know that's when they need us the most.
You have a lot of ups and downs in coaching, especially, but I can't remember any bad times at this point. I mean, they're all good. A lot of tears when you lose, a lot of down times, but I can't remember any of them. They're all positive now. Even the bad times were good.
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