A Quote by Warren Buffett
The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball.
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Nothing sedates rationality like large doses of effortless money.
The first core value we have is that everyone deserves a Cinderella experience. And I have experienced a Cinderella experience. And I really believe that most people who've come to Rent the Runway have had a Cinderella experience.
Do you like people? Most people claim that they like people with, of course, a "few exceptions." When the exceptions are added together it becomes clear that they include a vast majority of the people. It becomes equally clear that most people like just a few people, their kind of people, and either do not actively care for or actively dislike most of the "other" people.
There are times when a market such as housing, transportation or the stock or mortgage market keep rising and people with capital want to join in this growth. Soon the markets become overheated, partly because of the abundance of investment money and speculation. This is when the government should raise interest rates and increase the cost of borrowed money. Governments are shy about doing this because it could cause the very recession. Yet this is the best time to do this so that the inevitable recession never reaches the magnitude of the recent Great Recession.
Experience conclusively shows that index-fund buyers are likely to obtain results exceeding those of the typical fund manager, whose large advisory fees and substantial portfolio turnover tend to reduce investment yields. Many people will find the guarantee of playing the stock-market game at par every round a very attractive one. The index fund is a sensible, serviceable method for obtaining the market's rate of return with absolutely no effort and minimal expense.
In my experience ideology is a lot like religion; it's a belief system and most people cling to it long after it becomes clear that their ideology doesn't describe the real world.
The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.
If you defend a behavior by arguing that people are programmed directly for it, then how do you continue to defend it if your speculation is wrong, for the behavior then becomes unnatural and worthy of condemnation. Better to stick resolutely to a philosophical position on human liberty: what free adults do with each other in their own private lives is their business alone. It need not be vindicated and must not be condemned by genetic speculation.
As the Internet of things advances, the very notion of a clear dividing line between reality and virtual reality becomes blurred, sometimes in creative ways.
That feeling in the dressing room after you win - nothing comes close to that. You can't get that in any other career. Maybe in the stock market back in the '80s when people were making tons of money, maybe they felt something similar. Maybe. But look at the market now. Nothing gives you that emotion like sports. Nothing. Am I wrong?
One of the most important analytic tools when assessing an investment is an intellectually advantaged disparate view. This includes knowing more and perceiving the situation better than others do. It is also critical to have a keen understanding of what the market expectations for any investment truly are. Thus, the process by which a disparate perception, when correct, becomes consensus should lead to meaningful profit. Understanding market expectation is at least as important as, and often different from fundamental knowledge.
This is all about knowing a market, ... and it's so thorough that even if you don't have personal experience in that market you can still go into it and find out, what are the things that people will pay money for!
There lay between them, separating them, that same terrible line of the unknown and of fear, like the line separating the living from the dead.
Nagging questions remain: Where is the line between making the most of one's potential and reaching for the unattainable? Where is the line between education as a tool and education as a kind of magic? The line is blurred and that is why when education fails, disillusionment is so bitter.
For me the greatest source of income is still movies. Nothing - stocks, financial speculation, real estate speculation or businesses - makes more money for me than making movies.
I never ask if the market is going to go up or down because I don't know, and besides it doesn't matter. I search nation after nation for stocks, asking: 'Where is the one that is lowest-priced in relation to what I believe it's worth?' Forty years of experience have taught me you can make money without ever knowing which way the market is going.
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