“When we take a risk, we are betting on an outcome that will result from a decision we have made, though we do not know for certain what the outcome will be. The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing…
13
08/05/2022
2
“A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall…
3
“Value is destroyed, not created, by any business that loses money over its lifetime, no matter how high its interim valuation may get. What actually…
2
“In a bear market, this is what is most important: not making mistakes. The goal is to conserve capital. When a long bear market finally ends, those…
2
“The most outrageous lies that can be invented will find believers if a man only tells them with all his might.” —Mark Twain
7
07/29/2022
2
‘‘Most managers have very little incentive to make the intelligent-but-with-some-chance-of-looking-like-an-idiot decision. Their personal gain/loss…
1
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