A Quote by Seth Klarman
Investors need to pick their poison: Either make more money when times are good and have a really ugly year every so often, or protect on the downside and don't be at the party so long when things are good.
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I believe that good investors are successful not because of their IQ, but because they have an investing discipline. But, what is more disciplined than a machine? A well-researched machine can make many average investors redundant, leaving behind only the really good human investors with exceptional intuition and skill.
I've been going a long time now along the way I've learned some things. You have to make the good times yourself take the little times and make them into big times and save the times that are all right for the ones that aren't so good.
Generally, you want to raise capital either when you have to or when it's really easy. If the company desperately needs money, and they can't figure out any other way, then they need to raise money. Or if someone's offering you easy money on good terms, you should take it because you can use it for good things.
Billions are spent in advertising every year to make you think horrible things are good for you and to get your money for things that will kill you.
When times were good, we made more money. When times are bad, we make less money.
As an artist, you want to make good stories and create good art; as a businessman, you want to make money and make sure the investors are happy. The two will always clash, unfortunately.
I never really have any major resolutions. I do try to be a good person, to be a good mom, to be a good wife, I don't really start the year off on January 1, 'Oh, I am now going to make a big change.' I try every day when I wake up to be good to the people around me.
Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.
I can make a damn pork chop. My best dish is actually lasagna, which I do a couple times a year. My wife wishes I cooked a little bit more often, but I can put a frozen pizza in the oven and I make a good salad.
God works in mysterious ways. Things may look good outwardly, but there may be evil contained inside. Let no one be deluded by pride that he himself has conceived good ideas or done good deeds. If everything were as it seemed, the Prophet would not have cried out with such illuminated and illuminating perspicacity, Show me things as they are! You make things appear beautiful when in reality they are ugly; You make things appear ugly when in reality they are beautiful. Show us therefore each thing as it is lest we fall into a snare and be ever errant.
We've got a form of brainwashing going on in our country…. Do you know how they brainwash people? They repeat something over and over. And that's what we do in this country. Owning things is good. More money is good. More property is good. More commercialism is good. MORE IS GOOD. MORE IS GOOD. We repeat it--and have it repeated to us--over and over until nobody bothers to even think otherwise. The average person is so fogged up by all this, he has no perspective on what's really important anymore.
There are some things you have to accept come with being really good at something: more attention, more eyes on you, every move you make - whether good or bad, you have to answer. If that's the price of where I want to get, it'll be worth it.
I think we're all trying our hardest, and a lot of times we do bad things and need to do more good things. We need to be more caring, more forgiving, more loving.
One of the things I found is that the things we want to say for well-intentioned motives often cause more harm than good. People don't need our words. They mainly need our presence, they need our love. And if you come in too quickly with explanations, you may do more harm than good.
We need a federal government commission to study the way our financial services system is working - I believe it is working badly - and we also need more educated investors. There are good long term low-priced mutual funds - my favorite is a total stock market index fund - and bad short term highly priced mutual funds. If investors would get themselves educated, and invest in the former - taking their money out of the latter - we would see some automatic improvements in the system, and see them fairly quickly.
Chances are that any helpful two-year-old will break some eggs. We are often not very good at things when we are new. But there may be an important choice to make at such moments. Do we support and protect the innate wish to be of help to others in our children, or do we protect the eggs? Hard as it seems, the greater mother wisdom may lie in a willingness to clean up broken eggs or replace a mitten and a box of crayons.
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