A Quote by Warren Buffett
We still find very few [stocks] that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.
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I don`t think I own any US stocks, if I do its very few, so few I can`t even remember.
The enthusiasm for Tesla and other bubble-basket stocks is reminiscent of the March 2000 dot-com bubble. As was the case then, the bulls rejected conventional valuation methods for a handful of stocks that seemingly could only go up. While we don't know exactly when the bubble will pop, it eventually will.
Economics has been called the dismal science. Once you get to understand it, you may not find it so dismal, but you don't find it much of a science either.
I do have confidence that we're gonna be able to get it right. But it's not gonna be overnight. And there's no silver bullets to this. The fact of the matter is, is that we are suffering from a massive hangover from a binge of risk taking.
Very few of the heroes of the Golden Age of American finance had much interest in the solid realities of what underlay their structure of stocks and bonds and credits .
In trials of fact, by oral testimony, the proper inquiry is not whether is it possible that the testimony may be false, but whether there is sufficient probability that it is true.
I studied philosophy in school, became disgruntled by the fact that it was a way to have a very interesting conversation with very few people about very few things in very narrow terms and yet still believed (and still believe today) that there was something that I was getting myself involved in when I said I wanted to study philosophy.
I had a few stocks, but stocks took a dive. I never sell my stocks.
I have been too long acquainted with human nature to have great regard for human testimony; and a very great degree of probability, supported by various concurrent circumstances, conspiring in one point, will have much greater weight with me, than human testimony upon oath, or even upon honour; both of which I have frequently seen considerably warped by private views.
A belief may be larger than a fact. A faith that is overdefined is the very faith most likely to prove inadequate to the great moments of life.
We have learned that the things we amassed to prove to ourselves how valuable, how important, how successful we were, didn't prove it at all. In fact, they have very little to do with it. It's what's inside of us, not what's outside of us that counts.
I don't think the process of writing books is in any way sensible. It's not logical, and it's not reasonable. I do write very fast, and I just do it in a binge. Other people binge-drink; I binge-write.
When you consider how many millions of workdays begin with hangovers great and small, it is mildly surprising to find how few real descriptions of the experience our literature can boast.
I think about dying but I don't want to die. Not even close. In fact my problem is the complete opposite. I want to live, I want to escape. I feel trapped and bored and claustrophobic. There's so much to see and so much to do but I somehow still find myself doing nothing at all. I'm still here in this metaphorical bubble of existence and I can't quite figure out what the hell I'm doing or how to get out of it.
The happiness even of the naturalist depends in some measure upon his ignorance, which still leaves him new worlds of this kind to conquer. He may have reached the very Z of knowledge in the books, but he still feels half ignorant until he has confirmed each bright particular with his eyes.
In the United States of America, unfortunately we still live in a bubble of unreality.
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