A Quote by Warren Buffett
The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.
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[Y]ou weren't born with a talent for witchcraft: it didn't come easily; you worked hard at it because you wanted it. You forced the world to give it to you, no matter the price, and the price is and always will be high... People say you don't find witchcraft; witchcraft finds you. But you've found it, even if at the time you didn't know what it was you were finding, and you grabbed it by its scrawny neck and made it work for you.
The only piece of advice I've ever given anybody is learn to write songs and write as many songs as you can. Because it's never gonna hurt, and when you run into that problem of, 'God, I don't know what I want to say,' or the opposite problem of, 'I know exactly what I want to say, but no one has written it,' then you can just go write it yourself.
I had seen the financial crisis unfold, and I had seen the credit derivatives market get operationally ahead of itself, which resulted in systemic risk counterparty exposures. I began to believe that distributed ledgers had the capability to tackle that problem.
That is why embittered people find heroes and madmen a perennial source of fascination, for they have no fear of life or death. Both heroes and madmen are indifferent to danger and will forge ahead regardless of what other people say.
I find interesting characters or lessons that resonate with people and sometimes I write about them in the sports pages, sometimes I write them in a column, sometimes in a novel, sometimes a play or sometimes in nonfiction. But at the core I always say to myself, 'Is there a story here? Is this something people want to read?'
The opportunities of man are limited only by his imagination. But so few have imagination that there are ten thousand fiddlers to one composer.
It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future.
My hope is next year Terry and I can work out a contract. I have no problem with the Minnesota Twins.
When we find ourselves unable to reason (as one often does when presented with, say, a problem in algebra) it is because our imagination is not touched. One can begin to reason only when a clear picture has been formed in the imagination. Bad teaching is teaching which presents an endless procession of meaningless signs, words and rules, and fails to arouse the imagination.
I spent my whole career thinking about risk, markets, infrastructure, and regulation. I had seen the financial crisis unfold, and I had seen the credit derivatives market get operationally ahead of itself, which resulted in systemic risk counterparty exposures. I began to believe that distributed ledgers had the capability to tackle that problem.
Psychologists would say that the only two important forms of social learning are imitation and teaching, and they will spend time trying to figure out if animals imitate or teach. Sometimes they find they do; sometimes they find they don't. And so that's kind of the level of controversy there. Biologists would include imitation and teaching and a range of other kinds of social learning. So we would call that culture, whereas the psychologist wouldn't.
As vocabulary is reduced , so are the number of feelings you can express, the number of events you can describe, the number of the things you can identify! Not only understanding is limited, but also experience. Man grows by language. Whenever he limits language he retrogresses!
One's range [of ideas] is limited by one's interests and imagination and by one's passion.
Number theorists say that number theory is too complicated, so let's pretend that there is only one prime number, and then let's combine all these results. Surprisingly, sometimes it works.
Sometimes people say to me, “I want to write, but I have five kids, a full-time job, a wife who beats me, a tremendous debt to my parents,” and so on. I say to them, “There is no excuse. If you want to write, write. This is your life. You are responsible for it. You will not live forever. Don’t wait. Make the time now, even if it is ten minutes once a week."
Your imagination is the movie trailer for your future, so nurture it always. Logic will get you to the next level, but only imagination will take you to the level you really want to find.
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