A Quote by Seth Klarman

The best protection against risk is knowing what you are doing. — © Seth Klarman
The best protection against risk is knowing what you are doing.
Discipline is knowing what to do. Knowing when to do it. Doing it to the best of your abilities. Doing it that way every single time.
The risk of working with people you don't respect; the risk of working for a company whose values are incosistent with your own; the risk of compromising what's important; the risk of doing something that fails to express-or even contradicts--who you are. And then there is the most dangerous risk of all--the risk of spending your life not doing what you want on the bet that you can buy yourself the freedom to do it later.
Protection, therefore, against the tyranny of the magistrate is not enough; there needs protection against the tyranny of the prevailing opinion and feeling, against the tendency of society to impose, by other means than civil penalties, its own ideas and practices as rules of conduct on those who dissent from them.
Risk comes from not knowing what you're doing.
My view is that an investor is better off knowing a lot about a few investments than knowing a little about each of a great many holdings. One's very best idea's are likely to generate higher returns for a given level of risk than one's hundredth or thousandth best idea.
The best protection against recidivism is a job.
All legitimate government is a mutual insurance company, voluntarily agreed upon by the parties to it, for the protection of their rights against wrong-doers. In its voluntary character it is precisely similar to an association for mutual protection against fire or shipwreck.
Energy in the executive is a leading character in the definition of good government. It is essential to the protection of the community against foreign attacks; it is not less essential to the steady administration of the laws; to the protection of property against those irregular and high-handed combinations which sometimes interrupt the ordinary course of justice; to the security of liberty against the enterprises and assaults of ambition, of faction, and of anarchy.
People aren't against you; they are for themselves. The most dangerous risk of all - the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later. He who conquers others is strong, he who conquers himself is mighty.
Though woman needs the protection of one man against his whole sex, in pioneer life, in threading her way through a lonely forest, on the highway, or in the streets of the metropolis on a dark night, she sometimes needs, too, the protection of all men against this one.
Diversification is protection against ignorance. It makes little sense if you know what you are doing.
Neither the Army nor the Navy is of any protection, or very little protection, against aerial raids.
The risk that is involved in trusting is stepping forth with willingness with a knowing that you can lose something or fail, and doing it anyways
Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
Looking back on my whole experience, the biggest takeaway was just being proud of what you do, and knowing that it's okay to do your best even if it's not the best. That's sort of the theme. I mean, obviously I'm not the best singer, obviously I'm not the best piano player or the best songwriter, but I'm doing my best on all of 'em. Once you have all those things in place, then I think everything falls the way it should.
The pro-gun advocates point to the 2nd amendment of America's Constitution, citing Americans' right to bear arms as a protection against tyrants. Pro-Bitcoin advocates want protection against tyrants, too. The difference is how these two groups define tyranny.
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