A Quote by Warren Buffett
But, surprise - none of these blockbuster events made the slightest dent in Ben Graham's investment principles. Nor did
they render unsound the negotiated purchases of fine businesses at sensible prices. Imagine the cost to us, then, if we had let a fear of unknowns cause us to defer or alter the deployment of capital. Indeed, we have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.
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We have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.
Fear is the foe of the faddist, but the friend of the fundamentalist.
Our particular principles of religion are a subject of accountability to our god alone. I enquire after no man's and trouble none with mine; nor is it given to us in this life to know whether yours or mine, our friend's or our foe's, are exactly the right.
This is the fear that made fish crawl out onto dry land and evolve lungs, the fear that teaches us to run, the fear that makes us bury our dead.
This fear bears no analogy to any fear I knew before. This is the basest of all possible emotions, the feeling that was with us before we existed, before this building existed, before the earth existed. This is the fear that made fish crawl out onto dry land and evolve lungs, the fear that teaches us to run, the fear that makes us bury our dead.
Fear never wrote a symphony or poem, negotiated a peace treaty, or cured a disease. Fear never pulled a family out of poverty or a country out of bigotry. Fear never saved a marriage or a business. Courage did that. Faith did that. People who refused to consult or cower to their timidities did that. But fear itself? Fear herds us into a prison and slams the doors. Wouldn't it be great to walk out?
Tragedy is an imitation not only of a complete action, but of events inspiring fear and pity. Such an effect is best produced when the events come on us by surprise; and the effect is heightened when, at the same time, they follow as cause and effect. The tragic wonder will then be great than if they happened of themselves or by accident; for even coincidences are most striking when they have an air of design.
Our investments continue to be few in number and simple in concept: The truly big investment idea can usually be explained in a short paragraph. We like a business with enduring competitive advantages that is run by able and owner-oriented people. When these attributes exist, and when we can make purchases at sensible prices, it is hard to go wrong (a challenge we periodically manage to overcome).
If we were made in his image then call us by our names.
Most intellects do not believe in god but they fear us just the same
She had just realized there were two things that prevent us from achieving our dreams: believing them to be impossible or seeing those dreams made possible by some sudden turn of the wheel of fortune, when you least expected it. For at that moment, all our fears suddenly surface: the fear of setting off along a road heading who knows where, the fear of a life full of new challenges, the fear of losing forever everything that is familiar.
Fear wants us to become obsessed with some event or person in the future, a year, a month, even a day. It also wants us to look backwards not at our successes, but our short-comings and our failures. Fear losses it's grip when we stay in the now.
A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
Government spending either is completely wasteful, merely transfers income, purchases an intermediate rather than a final good, or purchases valuable final services whose value cannot be ascertained because the transaction is not made by private parties exchanging their own resources in a market setting.
We fear the past, present and future. We fear the unknown, we fear not having enough, losing what we have, not having what we want. We fear what will become of us and those that we care for. We fear what others think of us and what they don't think of us. We fear, fear, fear and therefore we are controllable through the manipulation of all that we fear. The present War on Terror is the War of Fear. No Fear, no control.
Normal fear protects us; abnormal fear paralyses us. Normal fear motivates us to improve our individual and collective welfare; abnormal fear constantly poisons and distorts our inner lives. Our problem is not to be rid of fear but, rather to harness and master it.
I infer that God's decrees, and the necessity of event flowing thence, neither destroy the true free-agency of men, nor render the commission of sin a jot less heinous. They neither force the human will, nor extenuate the evil of human actions. Predestination, foreknowledge, and providence, only secure the event, and render it certainly future, in a way and manner (incomprehensibly indeed by us; but) perfectly consistent with the nature of second causes.
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