A Quote by Seth Klarman
Loss avoidance must be the cornerstone of your investment philosophy.
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There is no question that an important service is provided to investors by investment companies, investment advisors, trust departments, etc. This service revolves around the attainment of adequate diversification, the preservation of a long-term outlook, the ease of handling investment decisions and mechanics, and most importantly, the avoidance of the patently inferior investment techniques which seem to entice some individuals.
The risk of an investment is described by both the probability and the potential amount of loss. The risk of an investment-the probability of an adverse outcome-is partly inherent in its very nature. A dollar spent on biotechnology research is a riskier investment than a dollar used to purchase utility equipment. The former has both a greater probability of loss and a greater percentage of the investment at stake.
Satyagraha is the pursuit of truth. My grandfather believed that truth should be the cornerstone of everybody's life and that we must dedicate our lives to pursuing truth, to finding out the truth in our lives. And so his entire philosophy was the philosophy of life. It was not just a philosophy for conflict resolution, but something that we have to imbibe in our life and live it all the time so that we can improve and become better human beings.
(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss
[High income tax rates] not only check consumption but discourage investment and encourage...the avoidance of taxes [rather] than the production of goods.[...]Our present tax system...reduces the financial incentives for personal effort, investment, and risk-taking.
Passionate investment leaves us vulnerable to loss. And sometimes, no matter how clever we are, we must lose.
The avoidance of that which causes you pain does not produce enlightenment. It produces avoidance. Religion is the avoidance of pain and suffering.
When you go through hell, your own personal hell, and you have lost - loss of fame, loss of money, loss of career, loss of family, loss of love, loss of your own identity that I experienced in my own life - and you've been able to face the demons that have haunted you... I appreciate everything that I have.
Lethargy, bordering on sloth should remain the cornerstone of an investment style.
The avoidance of loss is the surest way to ensure a profitable outcome.
Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.
It is a tenet of my investment style that, on the subject of common stock investment, maximizing the upside means first and foremost minimizing the downside. The deleterious effect of permanent capital loss on portfolio returns cannot be overstated.
Weight loss can change your whole character. That always amazed me: Shedding pounds does change your personality. It changes your philosophy of life because you recognize that you are capable of using your mind to change your body.
The spiritual experience of the philosopher is the nourishing soil of philosophy; that without it there is no philosophy; and that, even so, spiritual experience does not, or must not, enter into the intelligible texture of philosophy. The pulp of the fruit must consist of nothing but the truth.
As a cornerstone of my policy, we will substantially expand public-private partnerships to maximize the amount of investment and funding that is available for space exploration and development.
I tell you, in my opinion, the cornerstone of democracy is free press - that's the cornerstone.
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