A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business

Avoid working directly under somebody you don't admire and don't want to be like.

No wise pilot, no matter how great his talent and experience, fails to use his checklist.

I think corporate managers should learn to be better investors because it would make them better managers.

... some important factor doesn't lose its "share of force" just because some "expert" can better measure other types of force.

The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.

Using volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return.