I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.
Returns decrease as motion increases.
What we really want to do is buy businesses that we would be happy to own forever.
A stock doesn't know that you own it.
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.
[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.