A Quote by Charlie Munger
So you can get very remarkable investment results if you think more like a winning pari-mutuel player. Just think of it as a heavy odds against game full of craziness with an occasional mispriced something or other. And you're probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It's just that simple.
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The way to win is to work, work, work, work and hope to have a few insights And you're probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It's just that simple.
To us, investing is the equivalent of going out and betting against the pari-mutuel system. We look for a horse with one chance in two of winning, and that pays three to one. In other words, we're looking for a mispriced gamble. That's what investing is, and you have to know enough to know whether the gamble is mispriced.
The model I like to sort of simplify the notion of what goes on in a market for common stocks is the pari-mutuel system at the racetrack. If you stop to think about it, a pari-mutuel system is a market. Everybody goes there and bets and the odds change based on what's bet. That's what happens in the stock market.
The best thing about streaming is there are no load times during play. Once the game has loaded the player never has to wait for new maps to load. This enables the player to get more immersed in the game world as there are no loading screens to remind the player they are actually playing a video game.
Pretty much every issue that we've put out, there have been at least one or two things that really surprised me. It sounds like bullshit, but most of the stories that we've run had that effect on me. We get thousands and thousands of submissions and I don't think we've published a story yet - very few, anyway - where there wasn't something like what Mona Simpson described, where a first sentence or a first page didn't just really command attention.
The Berkshire-style investors tend to be less diversified than other people. The academics have done a terrible disservice to intelligent investors by glorifying the idea of diversification. Because I just think the whole concept is literally almost insane. It emphasizes feeling good about not having your investment results depart very much from average investment results. But why would you get on the bandwagon like that if somebody didn't make you with a whip and a gun?
I think the most important thing is just to write. It sounds so simple, but sometimes it's not. You can get so distracted - -by having to work other jobs, or what other people have to say about your writing - -but the one thing that really matters is that you just keep going, especially when you're working on a novel. It's so easy to get discouraged and give up.
I think we need to get smart enough to do what's going to help us and not just continue to do things that are going to hurt us. It's pretty easy to read something or hear about it in a message, but it's that personal application of that where it's just you, God, and your problems, that are going to give you the power to get stronger and stronger.
I have very simple ambitions. If I can just not be boring, I'm ahead of the game. It's hard in television. I think you get enormous reward from the audience. Just give them something they didn't see coming, and you get enormous points.
I think I'm just competitive and I demand a lot from myself. So I get frustrated if something hasn't come off for me or if a game is going against it. I like to think I channel it in the right way and do my best for the team.
I don't have synesthesia, but I think when music is really intense, it's almost like it's more than just hearing. If you're at a gig, and there's just something amazing going on, it's not really just hearing: it's more of a total body sense, isn't it? You get transported, and all your senses kind of join up.
I like any reaction I can get with my music. Just anything to get people to think. I mean if you can get a whole room full of drunk, stoned people to actually wake up and think, you're doing something.
People just like the thrill of anything. Dangerous things and dark things are exciting. Like as a kid, I knew I wasn't going to get killed if I went into the Haunted House but you kind of feel like you are. And when it comes out the track the other side, it's like, "we're still alive"! And I find it really funny when adults get really scared because I've not been really scared since I saw Jaws when I was a little kid. I just think people like the thrill of it, they like to feel like they accomplished something, that they survived the movie.
When you get out in the field, it's just like any other game. You want to be the same player, the same team that has gotten them to that point. I don't think you have to do anything special. Just be yourself and allow all the time you put in that take over and get the job done.
I think of choosing as a... both a fun and an effortful activity and I think of choice as something that in order for you to really get what you want out of it you have to put a lot into it and so I'm only willing to do that for a few different things and for the rest I really just try to either satisfy, come up with a simple rule or let somebody else make the choice.
Drummers get bored. You tell them to play something simple, and it gets more complicated as they do it. If they're not a composer, if they don't have any kind of investment in the music, they'll just add a bit there and another bit there, and you think no! Don't do that. So you end up using a drum machine.
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