A Quote by Seth Klarman

Selling, in particular, can be a challenge; many investors are tempted to become more optimistic when a security is performing well. This temptation must be resisted; tax considerations aside, when a security reaches full valuation, there is no longer a reason to own it.
There are many commitments I have made for reducing poverty. One is to reform social security. Social security reaches only 44 percent of Mexicans. One of my goals is to give social security to all the people.
Value investors should completely exit a security by the time it reaches full value; owning overvalued securities is the realm of speculators.
Now, Social Security through the years, for many many people, has been a terrible investment. It's really a tax, that's all it is. Social Security is a tax.
The concept of military necessity is seductively broad, and has a dangerous plasticity. Because they invariably have the visage of overriding importance, there is always a temptation to invoke security "necessities" to justify an encroachment upon civil liberties. For that reason, the military-security argument must be approached with a healthy skepticism.
Security concerns are especially high with regard to the e-filing of Income Tax returns that is rapidly being extended from commercial entities to individuals. Leading IT security experts and tax consultants are unhappy at the lack of security in e-filing of Income Tax returns.
You can't have the space for prosperity and success when you are obsessed with security. It is not possible to obtain unwavering security - physical, emotional, or economic - by having money. Keep in mind that security, like success, can be defined in many ways. If you focus less on how much your financial assets are worth, and more on what a creative and well-balanced individual you can be, security will take on a new meaning.
The definition of a security state is one that prioritizes security over all other considerations.
"Once there, always there", would give you less freedom than you recently enjoyed, but more security. Security not in the sense of safety from terrorists, burglars, or pickpockets... but security in the sense of knowing where you are, who you are, on what kind of future you can count, what will happen, whether you will preserve your position in society or whether you will be degraded and humiliated - this sort of security. This sort of security for many, many people - a rising number of people - looks at the moment more attractive than more freedom.
Individual security bargains may be located by the process of security analysis practically at any time. They can be bought with good overall results at all periods except when the general market itself is clearly in a selling range for investors. They show up to best advantage during the years in which the market remains in a relatively narrow and neutral area.
Index funds are... tax friendly, allowing investors to defer the realization of capital gains or avoid them completely if the shares are later bequeathed. To the extent that the long-run uptrend in stock prices continues, switching from security to security involves realizing capital gains that are subject to tax. Taxes are a crucially important financial consideration because the earlier realization of capital gains will substantially reduce net returns.
We have a media that goes along with the government by parroting phrases intended to provoke a certain emotional response - for example, "national security." Everyone says "national security" to the point that we now must use the term "national security." But it is not national security that they're concerned with; it is state security. And that's a key distinction.
We simply can no longer afford to deny the full potential of one half of the population. The world needs to tap into the talent and wisdom of women. Whether the issue is food security, economic recovery, health, or peace and security, the participation of women is needed now more than ever.
Defending against military-strength malware is a real challenge for the computer security industry. Furthermore, the security industry is not global. It is highly focused in just a handful of countries. The rest of the countries rely on foreign security labs to provide their everyday digital security for them.
More retirees, longer life expectancy, larger benefits, and fewer workers - these trends have meant substantial increases in the payroll tax. Since the social security program began, the payroll tax has increased more than 500 percent.
We must plan for freedom, and not only for security, if for no other reason than only freedom can make security more secure.
I am worried about this word, this notion - security. I see this word, hear this word, feel this word everywhere. Security check. Security watch. Security clearance. Why has all this focus on security made me feel so much more insecure? ... Why are we suddenly a nation and a people who strive for security above all else?
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